The price of Obamanomics: ObamaCare division

In an earlier post, I had described the deliberate sacrifice of 23,000 jobs in the Gulf region as a necessary part of President Obama’s economic amateurism: unfamiliar with how business operates in the real world, he was willing to eliminate the livelihoods of thousands in the magical belief that they would all come back as soon as he allowed drilling to resume.

Now we’re seeing the same processes and consequences in other sectors, as insurance and other companies begin mass layoffs thanks to our shiny new health-care reform law:

  • Assurant health cutting jobs ahead of health reform implementation: “Milwaukee-based Insurer Assurant Inc. is cutting its workforce in various locations around America ahead of health care reform implementation.”
  • NC’s largest health insurer to cut jobs: “Blue Cross and Blue Shield of North Carolina will contract with Dallas-based Sourcecorp for some data entry work… The company wants to cut its total operating costs by 20 percent, or $200 million, by 2014. That’s when much of the federal health care law takes effect.”
  • WakeMed begins $87M cost-cutting effort: “Wake County’s largest hospital system plans to slash annual operating costs by as much as $87 million as it makes changes recommended by an outside consulting firm… efforts likely will include eliminating jobs in some departments… The hospital also may phase out some services where it’s not the market leader, such as providing chemotherapy and other cancer treatment.”
  • Houston Employers chop 17,000 jobs in area: “Finance and health care companies are holding back on hiring because of uncertainties about recent federal regulations, he said. The moratorium on deep-water drilling has also caused energy companies to be more cautious about domestic expansion.”

Be sure to check out Doug Ross’ post for the rest of the cheery news. Regardless of Obama’s smooth assurances that health care reform would bend the cost-curve down and save the country money, this is the reality: thousands of people are going to lose their jobs because businesses will have to adjust to the new expenses imposed by ObamaCare. And it won’t be just job losses: companies will also raise the premiums charged consumers or get out of the health-insurance business altogether.

The real world is going to make us pay for the progressives’ fantasies, so let’s make them pay in November.

RELATED: And speaking of reality messing up a fun fantasy, here’s one for all the college students who helped make history by voting for Obama: Congratulations, your school may have to discontinue your student insurance. You’re welcome.

(Crossposted at Public Secrets)

Comments are closed.