Americans Fear of Recession Growing
ACA Regulations and Taxes Discourage Growth
(Washington, DC) – Recent polling shows the outlook of Americans about the U.S. economy is worsening. According to survey data released yesterday, 43 percent feel less confident about their job security than they did six months ago. Only 10 percent are more comfortable about making a major purchase than six months ago – compared to 44 percent who are less comfortable. Nineteen percent report that their insurance costs have already increased in the few weeks since the exchanges created by the Affordable Care Act (also called the ACA or Obamacare) went online. A separate survey finds that a majority of Americans now believe that the United States is in a recession. These economic fears come at a time when many Americans have given up on looking for work, and the labor force participation rate has fallen to 63.2 percent – its lowest level since 1978.
Daniel Garza, Executive Director of The LIBRE Initiative released the following statement:
"What will it take to get the President and the Congress to change course, and to begin to focus on reforms that will create jobs? Press reports indicate that millions of Americans will lose health care policies that they liked in the year ahead. Small businesses and entrepreneurs are concerned about tax increases and new regulations, and about Washington's inability to address the priorities of the American people – starting with job creation.
The American people expect the President to recognize their priorities and work to address them. It's far past time for him to correct the mistakes that are hindering growth, and begin to focus on reforms that will incentive the private sector to create jobs."