The longer President Obama is in office, the more concerned I am about the future of the American worker and the lifestyle they have worked hard to attain. The decisions made now how to spend the TARP money and the newly passed healthcare reform bill will have a negative effect on employment and further stress people trying to make a living in a sluggish economy.
I voted for Obama. I voted for George W. Bush the first time he ran. I had high hopes for both as being competent leaders that would set policy that would enrich people’s lives and to live the American Dream. Neither Bush’s nor Obama’s administration has helped maintain financial stability, short of a depression. The stock market hasn’t made money in 10 years, which is highly unusual. The federal government continues to make decisions for us taking away our freedom to choose.
The latest passing of the healthcare reform bill was in my opinion rushed through this current congress before the November election to make sure it passed. It has already increased the healthcare costs for businesses by 20-40%. This means that for family coverage, a policy that costs $15,000 in 2010 now averages $4,500 or 30% higher for the same coverage in 2011.
Most business pay 60% of the healthcare coverage and will have to contribute an additional $2,700 for the same coverage as last year per employee, while the employees themselves will have to contribute another $1,800 out of their own pocket to cover the increased costs. This means that companies will be more reluctant to hire additional employees.
Employees will be spending more of their disposable income on medical coverage rather than on consumer products which means that we all will be spending less to make up for loss of income after paying more money for health insurance. How does the new healthcare reform plan help the American people that have worked diligently to make a living? Where’s the break for them?
It worries me that fewer jobs will be created for the many people still looking for work and the displaced workers that are still collecting unemployment whose benefits will end soon. Small companies will become stagnant in their hiring efforts due to squeezed profits. We will continue to pay higher income taxes to pay for our government leaders to get their health insurance, but will they help the American people?
On Election Day, we need to vote for candidates that understand the financial strain on businesses and individuals and have a plan for a recovery with more jobs, less taxes and more opportunity to make money. This election is important and I need to believe that this time, things will be different. Voice your opinion and vote.