Daily Archives: April 22, 2013

Obamacare killing jobs, crippling wealth creation

Urologist Dr. Cameron Schaeffer unloads on Obamacare: Obamacare killing jobs, crippling wealth creation | Op-Ed | Kentucky.com.

The correlation between a society’s wealth and the life expectancy of its citizens is no mystery. The trick, then, is to create wealth.

Wealth creation requires sound money, healthy markets, property rights, reasonable regulation and the rule of law. It requires an optimistic entrepreneurial class that believes its hard work and investments will pay off. When the entrepreneur confronts a task he does not want to do himself, a job is created, as long as the wage is worth his cost in time and money. When his costs are uncertain, he is afraid to hire.

Obamacare undermines nearly every fundamental of wealth and job creation. Five years into this recession, the economy is still down 3 million jobs; some economists are blaming the feared costs and uncertainties of Obamacare, even before full implementation of the law.

Read more here: http://www.kentucky.com/2013/04/22/2610319/obamacare-killing-jobs-crippling.html#storylink=cpy

I’ll skip to the conclusion but you should read the whole thing.

As the wet blanket of Obamacare spreads over the nation, the limited, tragic vision of our leaders will be revealed. The Federal Reserve’s money presses will initially hide the costs of the law — the money spent and the lost revenues of economic stagnation. But when those costs are eventually passed to the states, already drowning under pension promises, the tragedy will come to an end, the king will have exited the stage, and the blind will see. And the poor will suffer.

If the government manages to get Obamacare started without to many birthing pains, I see Dr. Schaeffer’s scenario as quite plausible.


We still have a health-care spending problem

We still have a health-care spending problem – The Washington Post. I’m stunned.

Our nation has made no fundamental change in how health care is paid for or delivered.

Congress has not passed sweeping legislation to contain health costs, although it did make inroads into moderating the growth in Medicare and health-insurance premiums through the Affordable Care Act (or Obamacare, as it is sometimes known). Increases in Medicare payments to insurance companies, hospitals and other health-care providers are getting trimmed. And the law is fostering a number of small-scale experiments around the country that are showing promise in delivering health care more efficiently. Big increases in insurance premiums for individuals and small businesses are now scrutinized by federal and state officials, and insurers are required to provide rebates if their administrative overhead and profits are too high.

Still, if claims that the health-cost problem has been reined in seem like wishful thinking, that’s because they mostly are.

A good starting point is to understand why costs for the same basic procedure vary substantially, and by that I mean over 2x, from facility to facility.


Obamacare: Adjust instructors hours cut…

Colleges Curb Adjuncts’ Hours to Skirt Affordable Care Act Rules – Faculty – The Chronicle of Higher Education.

Allison G. Armentrout, an adjunct instructor at Stark State College, doesn’t get paid by the hour. She earns $4,600 to teach two English composition courses. But now she carefully tracks how many hours she works on an electronic time sheet.

On a recent week, she spent three hours preparing for her lectures, close to six hours in the classroom, and 16 more grading assignments for a grand total of about 25 hours. So she can breathe a sigh of relief because she won’t lose her job: She came in under the college’s new 29-hour-a-week wire designed to keep her ineligible for health-care coverage under the Patient Protection and Affordable Care Act

No surprise, in fact I’d call it common sense.