1 / 12

SPENDING IS THE PROBLEM Historic/Projected Spending & Revenue as a Share of Economy

SPENDING IS THE PROBLEM Historic/Projected Spending & Revenue as a Share of Economy. Source : OMB/CBO. CRUSHING BURDEN OF DEBT U.S. Debt Held by Public as a Share of Economy. Source: OMB/CBO. Contrast in Visions A Comparison of Fiscal Year 2014 Budget Resolutions.

pearly
Download Presentation

SPENDING IS THE PROBLEM Historic/Projected Spending & Revenue as a Share of Economy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. SPENDING IS THE PROBLEMHistoric/Projected Spending & Revenue as a Share of Economy Source: OMB/CBO

  2. CRUSHING BURDEN OF DEBTU.S. Debt Held by Public as a Share of Economy Source: OMB/CBO

  3. Contrast in Visions A Comparison of Fiscal Year 2014 Budget Resolutions [1] The Senate Democrats’ budget resolution increases revenue by $923 billion over ten years. It includes reconciliation directives to increase revenue by $975 billion over ten years. According to the Senate Budget Committee Republican staff, if the resolution assumptions for offsetting the sequester ($480 billion) and stimulus ($100 billion) are included, it increases taxes by $1.5 trillion.

  4. State Decisions For Creating Health Insurance Exchanges 3 17 27 7 Source: Kaiser Family Foundation, May 28, 2013, http://kff.org/health-reform/state-indicator/health-insurance-exchanges/# http: Kaiser Family Foundation, statehealthfacts.org

  5. 2014: “State” Exchanges • Insurance “Marketplace” for Individuals and Small Business • HHS Administers Exchanges in Lieu of States; Some States Entering Into “Partnership” to Share Responsibility • “State” in Name Only: ACA Requirements and Federal Regulations Drive What Can Be Offered in State, Partnership and Federal Exchanges • Much of 20k Pages Of Regulations Issued so far Relate to Exchange/Insurance Regulation • Benefit Design, Cost-sharing, and Even Participating Doctors and Providers Subject to Federal Control and Oversight • $1 Trillion for Sliding Scale Premium/Cost-sharing Subsidies for Individuals/Families up to 400% of Federal Poverty

  6. Labor Market Impacts • False Promise: Speaker Pelosi stated that the law “will create 4 million jobs, 400,000 almost immediately.” • 71%of small businesses say the health care law makes it harder to hire additional workers. • Spring/Summer reports of employers shifting workers to part-time or 29 hours to avoid Obamacare rules. • False Promise: President Obama said, “If you like your health care plan, you can keep your health care plan.” • 7 million fewer people will have employer-sponsored coverage according to CBO. • HHS estimates that up to 80%of small employer plans will lose grandfathered status – triggering new requirements on the coverage Americans have today.

  7. Examples of Employer Actions • Securitas ended mini-med plans – 55,000 employees to the exchanges • Home Depot – stopped covering 20,000 part-time workers • UPS and UVA – no longer covering spouses with access elsewhere • Trader Joe’s – stopped coverage, giving 1,300 part-time workers $500 for exchange coverage • Commonwealth of VA – part-time limited to no more than 29 hours • Walgreens (160,000), Sears and Darden Restaurants – moved employees to private exchanges • IBM (110,000) and Time Warner – moved retirees to private exchanges

More Related