President Obama inherited a bad economy. Yet, we are now almost five years into his presidency, and too many Hoosiers still struggle to find a good paying job.
This week, the Associated Press released a study showing the gap between America’s highest and lowest income families is wider than it ever has been. According to the study, unemployment among low income families—those making less than $20,000—now tops 21 percent. This figure nearly matches the rate for all workers during the 1930s Great Depression.
Unfortunately, the President’s policies are making matters worse. Middle income workers are getting pushed into lower wage jobs, displacing the working poor. The average length of time on unemployment for U.S. workers is almost 40 weeks—its highest level since World War II. Today, a record 46 million Americans live in poverty.
Despite the clear need to create jobs, the President’s programs often erase them. He has proposed raising taxes, increasing spending, hiking borrowing, and adding new regulations, all of which discourage economic growth and deter employers from hiring more workers. Overall unemployment remains too high. Many have simply stopped looking for work altogether. We must to do better.
Instead, the President is driving forward with the launch of his prize achievement—ObamaCare. This bad law hurts the very people who need the most help in this struggling economy. The Indiana Department of Insurance estimates that ObamaCare will cause insurance rates in Indiana to increase as much as 72 percent for those with individual plans. Part-time teachers and other school personnel throughout Indiana are already having their hours cut so schools can avoid ObamaCare taxes. Retail and restaurant workers are having their hours cut too. Some are losing their jobs altogether. Small businesses are taking a “wait and see” approach and refusing to hire new employees. The result is a mess for everybody.