Premiums for young healthy people will jump in 45 states under Obamacare

Young people in 45 states will see their health insurance premiums increase under Obamacare because the law relies on the money they pay into the system to offset the cost of caring for older enrollees, according to a new study.

Virginia leads the pack, as individuals aged 27 and under will see their health insurance premiums jump by 252.5 percent -- $416.55 -- according to the Heritage Foundation's Center for Data Analysis.

Virginians under the age of 50 will see their premiums jump by an even greater percentage, rising from $228 to $991.03.

Such increases are not a surprise to the law's architects. “I have always said when looking at this bill, that if I were a young person, I can see elements of this bill that I wouldn't like in the short run,” Henry Aaron, vice chairman of the D.C. health exchange, told the Washington Examinerlast November.

Heritage expects monthly premiums for young people to drop in Colorado, Ohio, New York, Rhode Island, and New Jersey, "because those states had already over-regulated insurance markets that led to sharply higher premiums through adverse selection," according to study author Drew Gonshorowski.

The Heritage Foundation's Chairman Jim Demint cited the premium increases as one of the chief reasons his organization pushed for lawmakers to defund Obamacare most recent continuing resolution to fund government in the absence of a proper budget.

Demint argued that the defund push preserved one policy victory on spending. "If the Republicans had not fought on Obamacare, the compromise would have been over the budget sequester," he wrote in a Wall Street Journal op-ed published Thursday.

Via Washington Post

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‘Democratic’ and ‘Anti-Business’ Are Becoming Synonymous

Forbes’s recently released list of “The Best States for Businesses and Careers” provides further evidence of the Democratic party’s striking erosion as a party of economic growth and prosperity.  Based on their votes in the most recent presidential election, all but three of Forbes’s top-10 states are Republican-leaning, while all but two of its bottom-10 states are Democratic-leaning. 

The top-10 states on Forbes’s list — Utah, Virginia, North Dakota, North Carolina, Colorado, Nebraska, Texas, Georgia, Oklahoma, and Iowa — voted for Mitt Romney by an average margin of 14 percentage points.  Meanwhile, the bottom-10 states on Forbes’s list — California, Wisconsin, New Mexico, Vermont, West Virginia, Mississippi, Michigan, Hawaii, Rhode Island, and Maine — voted for President Obama by an average margin of 13 points.  That’s a 27-point swing from Romney to Obama as we move from the top-10 states to the bottom-10 states.

Forbes rated the states based on six factors: “business costs,” “labor supply,” “regulatory environment,” “economic climate,” “growth prospects,” and “quality of life.”  Forbes rated 62 percent of Obama’s states as being below average and 63 percent of Romney’s states as being above average.  Obama won only 33 percent of Forbes’s top-15 states but 73 percent of its bottom-15 states.

Via: Weekly Standard

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Jobless Claims on the Rise Again.

After digesting the unemployment numbers for the last few days, there is every indication that very few jobs are being created, as this administration continues to flounder.  They can boast all they want about the jobs that have been created in the past year, but the underlying consequences do not reflect the true picture of the job market.  When it is said that their are 766,000 less women working than three years ago, I have to pause and ask what's next? Veterans unemployment rates are also climbing at an alarming rate. This weeks new claims reached a four week high of 386,000 which are 6,000 more than the previous week.

Its hard to get excited when only 69,000 jobs were created in May. The revised job numbers for March and April show that 49,000 fewer jobs were created than originally  reported.  It just keeps getting worse and with no end in sight for an already floundering economy the only good news is it will spell doom for the re-election efforts of Obama. On June 14, 2012 House Speaker John Boehner released the following video showing the jobs bills that have been passed by the House but  still sit languishing in the Senate. Harry Reid has virtually put a halt to all legislation that would put people to work and jump start the economy.