The massive failure of the Unaffordable Care Act

Ted Cruz:

Three years after the Affordable Care Act passed, it's proved to be neither affordable nor caring.

Insurance premiums are skyrocketing. Seniors are losing health care choices. Millions of Americans are being pushed into a struggling and ineffective Medicaid system. Americans are grappling with scores of new taxes. Employers are slashing jobs and hours to avoid complying with Obamacare requirements.

This isn't what was promised. Americans were told if Obamacare was made law, they would be able to keep their health plans, taxes wouldn't go up, premiums would go down, and more jobs would be created. But the law isn't living up to its label. And it's hurting working families, young people, poor minorities and seniors the most.

Before Obamacare was adopted, President Barack Obama pledged that American families would pay $2,500 less for their insurance premiums by the end of his first term. Today, they are paying $3,000 more - a $5,500 swing between what was promised and reality. Young people will be particularly impacted, with the Energy and Commerce Committee estimating that recent college graduates with entry-level jobs who are struggling to pay off student loan debt could see their premiums increase between 145 and 189 percent on average.

As health costs are going up, jobs are becoming harder to obtain - a double dose of economic pain for those worrying about making ends meet. The Federal Reserve recently reported in its annual "beige book," which analyzed economic data from across the country, that "employers in several districts cite the unknown effects of the Affordable Care Act as reasons for planned layoffs and reluctance to hire more staff."

This is terrible news for Americans already suffering from disproportionately high unemployment rates. Currently, the unemployment rate for people who didn't graduate from high school is more than 12 percent. Hispanics have an unemployment rate of nearly 10 percent, and the African-American unemployment rate is over 14 percent.

Small businesses are discouraged from growing and hiring these folks. Indeed, Obamacare is designed to keep small business small. Once an employer has 50 employees on payroll, expensive compliance requirements are triggered. The approximately $1 trillion in new Obamacare taxes Americans will pay over the next 10 years, as scored by the Joint Committee on Taxation, will go to the government instead of private-sector paychecks.
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There is more.

Obama misled even his supporters when pushing this bad legislation, yet many of the low information voters still support the monstrosity.   It is a real drag on the economy and do they really expect small business people to digest and comprehend the thousands of pages of regulations that have already been generated by bureaucrats in Washington?