Under Threat from Obamacare, Businesses Reluctant To Hire
Policy uncertainty rules
Wondering why the unemployment rate has been near or above 8 percent for nearly four years? The Federal Reserve has an answer for you: Obamacare.
Earlier this month, the Fed released its latest "beige book" – a monthly report on economic conditions across the country. The book noted that employers across the country have "cited the unknown effects of the Affordable Care Act as reasons for planned layoffs and reluctance to hire more staff."
The more businesses learn about the president's health reform law, the more they're coming to realize that "affordable care" is the last thing it will provide. And that's in large part due to the multibillion-dollar tax that Obamacare is set to levy on health insurance companies.