• Down in the dumps: Target pushes workers into ObamaCare
• Wendy Davis flailing
• Christie takes a hit
• Carney don’t need a weatherman to know which way the wind blows
• So, like, when is the right time to ask the president about aliens?
DOWN IN THE DUMPS: TARGET PUSHES WORKERS INTO OBAMACARE
President Obama can’t complain about the way Target handled the announcement, congratulating its part-time employees on the news that they would be “transitioned” to the government-run insurance market under ObamaCare. Plus, the company is offering $500 vouchers and the aid of store-paid advisors to help them navigate their way into the new entitlement program. But even though Target softened the blow and didn’t press the ObamaCare panic button, the news is bad for the troubled health law. The next wave of ObamaCare cancellations is underway and it’s going to be pretty massive by all estimates. Large employers liked the idea of the law because it gave them the chance to shuck expensive coverage and get taxpayers to underwrite their health costs – individual welfare as corporate welfare. But as they move to take advantage of the ObamaCare cost shift (and avoid looming penalties and expansive regulations) the companies are also discomfiting voters. As the administration discovered with the individual insurance market, cancellations don’t go over well in real life.
[Home Depot and Trader Joes have already started their ObamaCare dump. Which companies will be next? Shabby earnings reports may be driving companies to find new savings in a hurry as investors demand fatter profits.]
Bill comes due -The insurance dumping is expected to continue through this election year and be matched with continued news of layoffs, workers dropped to part-time status and other economic depredations. While Team Obama can be happy that this round won’t be taking place concurrent with the crash landing of the program’s Web site, the scale promises to be much larger. While Obama bought time for his law by delaying regulations on big business, originally slated to start this month, CFOs will be lowering the boom this year. It’s going to hurt.