Sunday, February 15th, 2015

Federal Reserve Branch Bank Concludes Obamacare a Disaster for Businesses

Secrets of the Fed
Secretsofthefed.com
August 24th, 2014
Reader Views: 5,163

No-Obamacare-300x300

Each month, branch banks for the Federal Reserve send out questionnaires and surveys to businesses as a way to test the climate of the economy.  In the month of August, the Philadelphia branch asked businesses what the full extend and effect so far from the new Affordable Healthcare Act (Obamacare) was, and the responses they received were a disaster.  In the majority of responses, businesses either let go of employees to adjust to the higher costs imposed upon them by the Federal government, moved full time employees to part time status, or, changed benefit plans so that employees would be forced to pay more towards their premiums.

What the survey found was very disturbing: not only did businesses report that as a result of Obamacare the number of workers they employ is lower than higher (18.2% vs 3.0%), that there has been an increase in part time jobs (18.2% higher vs 1.5% lower), leading to a big increase in outsourcing and most importantly, Obamacare costs are being largely passed on to customers (28.8% reporting higher vs 0.0% lower), the punchline was that while there is basically no change in the number of employees covered (17.6% higher vs 14.7% lower and 67.6% unchanged), there has been a big jump in Premiums, Deductibles, Out-of-pocket maximums, and Copays, which has been “matched” by a far greater reduction in the range of medical coverage and the size of the network.

In short a disaster. – Zerohedge

Philly-Fed-Obamacare

When President Obama promoted the Affordable Care Act several years ago, he made 10 blanket promises that have all been proven to be either false, or outright lies.

Promise #1: “If you like your health care plan, you’ll be able to keep your health care plan, period.”

Promise #2: “That means that no matter how we reform health care, we will keep this promise to the American people: If you like your doctor, you will be able to keep your doctor, period.”

Promise #3: “In an Obama administration, we’ll lower premiums by up to $2,500 for a typical family per year.”

Promise #4: “For the 85 and 90 percent of Americans who already have health insurance, this thing’s already happened. And their only impact is that their insurance is stronger, better and more secure than it was before. Full stop. That’s it. They don’t have to worry about anything else.”

Promise #5: “Under my plan, no family making less than $250,000 a year will see any form of tax increase.”

Promise #6: “I will not sign a plan that adds one dime to our deficits—either now or in the future.”

Promise #7: “[W]hatever ideas exist in terms of bending the cost curve and starting to reduce costs for families, businesses, and government, those elements are in this bill.”

Promise #8: “I will protect Medicare.”

Promise #9: “I will sign a universal health care bill into law by the end of my first term as president that will cover every American.”

Promise #10: “So this law means more choice, more competition, lower costs for millions of Americans.”

In the four years since it was put into law, Obamacare has been revealed to be one of the most draconian, restrictive, and as the Philadelphia Fed shows, disastrous pieces of legislation ever imposed upon businesses and the American people.  And while most Americans knew that the current healthcare system was broken under government run programs such as medicare, and privately run insurance schemes known as HMO’s, the full nationalization of healthcare will forever change the relationships between Dr. and patient, and businesses and employees.

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Contributed by Secrets of the Fed of Secretsofthefed.com.

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  • americuh

    Duh! Since the unaffordable care act came into being my insurance: Premiums have more than doubled, deductible grew from a couple of hundred to a few thousand dollars, nothing is covered including prescriptions until the deductible is met, and the insurance co-pay after that has been reduced.
    Sad that America has come to the point where we have a nation that desires and votes for this crap.

    • susan

      just a reminder.

      not one single Republican voted for this despicable piece of legislation.

  • Bring it

    This is in no way a surprise. This health care law has been a disaster from the very beginning.

  • radarnj

    Survey Says! … ding ding ding ding .. and from Filthadelphia we get this survey. Guess what?? Where Obama got 110% of the votes and Romney got zero … these sheeple would vote for Obama again or any other democrat donkey(jacka**)… Democan or Republicrat … pretty much all the same. What are you gonna do? As always as like OmegaShock says … Are you ready for this?

  • Progressives = Liars

    Big thank you to Justice John Roberts you POS

  • jps73

    Is this not the pot calling the kettle black.”We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it”. —Congressman Louis T. McFadden in 1932 (Rep. Pa)

    • susan

      the federal reserve board is by far the most powerful “branch” of our current gov’t.

      they need the MSM investigating them 24/7

      one can dream…..

  • susan

    what utter nonsense!!

    1. use breaks in your points by using the enter tab.

    2. where is here?

    3. again where is here?

    4. where, again?

    5.??

    6. ???

    I would like to know what you are actually saying….

  • susan

    that may be true as is the fact that when weapons of mass destruction were in question all major democrats voted along with Bush republicans to go to war in Iraq.

    And I would also like to point out that in spite of the fact the pubs and dems are equally responsible…
    the republicans are treated by the MSM as lepers while the dems are treated as saviors

    something to ponder…..

  • susan

    You lost all of us after the first wonderful sentence….we have no idea what you are so passionately trying to say..
    Honestly many many are truly interested just saying…

  • Pravda01

    High prices for health care take away disposable income and that means less consumption and demand.

  • runsinquicksand

    Like Susan asks, where is here????????

  • http://www.whyisthesubsinking.com Tim Brown

    Fed recognizes sewage since they puke it on us 24/7

  • http://www.whyisthesubsinking.com Tim Brown
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