Just as the economy appears to be improving slightly, one of the prime drivers — the healthcare industry — is faltering, according to John Howser at Vanderbilt University Medical Center. "While the rest of the U. S. economy is stabilizing or improving, health care is entering into a recession," he observed.
Vanderbilt is in the process of eliminating 1,000 jobs by the end of the year as it trims its operating expenses, thanks to cuts in reimbursements and employee mandates under ObamaCare. Indiana University Health has already laid off 900 workers, while the Cleveland Clinic is offering early retirement to 3,000 of its employees. Said Eileen Shell, executive director at the Cleveland Clinic Foundation:
Some of the [budget cuts] include offering early retirement to 3,000 eligible employees, reducing operational costs, [slowing] the filling [of] vacant positions, and lastly [cutting the] workforce.
Putting the best possible spin on the matter, she added, "To prepare for healthcare reform [ObamaCare], Cleveland Clinic is transforming the way care is delivered to patients."
Once that “transformation” is completed, her patients may discover the realities of government intervention into the healthcare industry: fewer jobs, more delays, higher costs, and fewer choices — just the opposite of what the president promised.
The ripple effects, the negatives on our economy, are going to be playing out not just for months but for years.
And I doubt we will ever be able to totally measure the complete cost in manpower and money — in addition to taxes — that Obamacare will end up costing the American people, proving once again that there is no such thing as a free lunch, and there is no such thing as free healthcare.
The cost savings promised that would help provide coverage for 30 million Americans currently without it aren't real, according to Bauer. Instead, they come from cutting the fees paid to doctors and hospitals:
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