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US Rep. Patrick McHenry: Obamacare's troubles continue
Story Date: 2/10/2014
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Source: US Rep. Patrick McHenry (NC-10th), 2/7/14
Another week down and more bad headlines from the President's healthcare law. This week brought news that there will be over 2 million fewer jobs in America due to the Affordable Care Act. This analysis from the Congressional Budget Office, which you can read more about here, is a nearly two-fold increase over the previous estimates of 800,000 fewer jobs. With our wages still lagging and millions of Americans out of work, these numbers provide a sobering look at how truly devastating Obamacare has been to the American economy.
Unfortunately, Obamacare's problems aren't limited to hindering job growth. There are growing concerns that the American taxpayers could be stuck bailing out insurance companies thanks to the ACA. This issue arises from risk corridors in the law that force the government to pay insurers if their costs from Obamacare are higher than expected. Issues with the exchange website and high premiums have slowed enrollments and led to fears that Americans could be stuck footing the bill for yet another bailout.
This week the Oversight and Government Reform Committee held a hearing on the subject. By clicking HERE you can see my line of questions from the hearing:
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