The Non-Affordable Care Act’s Restaurant Recession - Rising health-care premiums and costs are leaving consumers with less money to dine out.
Minnesota Gov. Mark Dayton, a Democrat, recently acknowledged what many Americans have known for some time: “the Affordable Care Act is no longer affordable to increasing numbers of people.” Bill Clinton went further, calling it “the craziest thing in the world” that under ObamaCare some hardworking Americans “wind up with their premiums doubled and their coverage cut in half.” So much for President Obama’s oft-repeated promise that the average family would see the cost of coverage decline by $2,500 a year.
The burden these increased health-care costs place on working and middle-class Americans is inexcusable. But ObamaCare’s failure is having broader implications for economic growth. With GDP already averaging a mere 2% since the recession ended and hovering around 1.5% over the past four quarters, we should be making faster growth a political priority. That is not what the Affordable Care Act is doing.
The struggling restaurant industry is the canary in the coal mine for the Affordable Care Act’s impact on the broader economy. Unless Congress repeals and replaces the law, as both Donald Trump and House Speaker Paul Ryan advocate, with a patient-focused alternative that relies on competition to keep costs down and quality up, the outlook for economic growth and patient care will remain bleak.Comment: Image source