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Obamacare Jobs Loss

Recorded on June 8, 2011

From The Heritage Foundation, I'm Ernest Istook.

Why aren't America's businesses creating more jobs? In part because they know they're about to be hit with Obamacare's dictates that make each employee cost more than ever to keep on the payroll.

So rather than pay the jacked-up prices of health insurance mandates, many companies plan to pay a penalty and drop coverage altogether for their workers.

A new study reports that 30% of America's employers—almost a third—plan to quit providing health insurance altogether once Obamacare's mandates fully kick in in a couple of years. Even though they might be fined $2,000 per employee, companies figure it will still be better for their bottom line.

And where will those millions of people then get insurance? President Obama says then the taxpayers should pick up the tab. And that will keep deficit spending on the rise. It would be better to repeal Obamacare.

From The Heritage Foundation, I'm Ernest Istook.