Now that Syria has sort of blown up in President
Obama’s face he’s once again turned to the economy. In a speech marking the fifth anniversary of
the demise of Lehman Brothers the president sought to take credit for anything
he could find good in the economy and blame the rest on the Republicans. Nice try, Mr. President, but the people are
no longer buying it.
He bragged about 7.5 million private sector jobs he
has created but the facts tell a completely different story. The fact is there have only been a little
over a million jobs created since Obama took office. This is one of the slowest, if not the slowest, recoveries from a recession
in the history of the country. Why?
Well, for starters, George W. Bush and the
Republicans have nothing to do with it.
Consider this. Obamacare is
turning the American work force into part-timers. There are stories every day of companies that
are cutting employee hours so they don’t have to bear the sticker shock of
higher healthcare costs under Obamacare.
And the working poor are being hurt the most. Here’s the reason. Obamacare mandates that an employee pay no
more than 9.5 percent of their income on health insurance. Of course, health insurance is a fixed cost
so, naturally, it’s a bigger percentage of someone’s salary making $30,000 than
it is someone making $300,000. So, if
your employer is now paying 60 percent of your health insurance they don’t have
to pay more money for the higher-salaried employee but they do for the
lower-salaried employee.
Consider this example. The Kaiser Family Foundation says the average
family insurance plan is now just north of $16,000. For that employee who’s making $300,000 by
law they can’t pay more than $28,500 of their salary toward health
insurance. So even if they were footing
the whole bill their employer wouldn’t be obligated to pay anything toward
their health insurance.
Now let’s take the employee making $30,000. By law they can’t pay more than $2,850 toward
their health insurance. If their
employer is now paying 60 percent they’re paying $9,600 of that $16,000 health
insurance tab. Under Obamacare they’ll
be required to pay $13,150 or 82 percent of that person’s health
insurance. Now do you understand why
lower-paid employees are getting cut back to under 30 hours? If you’re employed under 30 hours then your
employer isn’t required to pay a dime of your health insurance.
We also have far more people trapped on welfare
since Obama changed the standards during the recession. More people on welfare means fewer people
working. Obama’s EPA has waged war
against the oil and coal industries, killing tens of thousands of jobs in the
process. At a time when there’s an oil
boom going on in North Dakota, primarily on private land. Were the president to open up public land to
oil development experts say we could be energy independent in five years, only
having to import a little oil from Canada.
Imagine that. No more entanglement in the Middle East over oil.
Between the president stubbornly standing in the way
of getting at our energy resources and blocking the completion of the Keystone
Pipeline millions of potential jobs go unfilled. The way to economic recovery is through a
booming economy and that comes from allowing the private sector to create jobs,
not by killing them. Unfortunately, the
recession is still real for most Americans.
This is your economy, Mr. President. After nearly five years at the helm there’s
simply no one left to blame. It’s time
for you to own it.
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