Even Obama predicts 'bumps' for Obamacare
In another inauspicious sign, the president says his massive Affordable Care Act will face a rocky rollout.
It's never a good sign when an architect expresses doubts about his own creation.
President Barack Obama on Wednesday warned that the Affordable Care Act will likely face a rocky rollout this fall, noting that the overhaul will still have "glitches and bumps" even if everything goes perfectly, according to The Wall Street Journal.
His comments come as many Americans and business owners are already apprehensive about the cost and complexity of the ambitious health care insurance legislation.
Many small businesses -- those with fewer than 500 employees -- are more likely than larger companies to dump their health care plans when Obamacare goes into effect, mostly because of concerns over prohibitive costs, as reported last month. At the same time, many businesses, including Regal Entertainment Group (RGC), are cutting back their employees' hours so they won't be required to provide coverage.
At the state level, Obamacare is facing additional problems. More than half of the country's states will sit out the law's expansion of Medicaid, meaning many low-income Americans won't have access to health care initially. That's contrary to the stated goal of the overhaul, which was to provide coverage to all Americans.
On top of that, almost three dozen states are choosing not to run their own insurance exchanges, the marketplaces that will allow consumers to shop around for insurance plans, The Journal notes.
For doubters, Obama's comments will likely confirm their fears about the Affordable Care Act. And there's no lack of doubters. A whopping 40% of Americans hold unfavorable views about Obamacare, according to an April poll by the Kaiser Family Foundation. Only 35% hold a favorable view of the overhaul, the survey found.
The dividing line between supporters and doubters splits along political lines, with a majority of Republicans opposed to the law and most Democrats expressing support, the Kaiser survey said.
Republicans are preparing to capitalize on early problems with the overhaul, The Journal notes.
"Obamacare was a political nightmare for Democrats in the 2010 election. In 2014, it's shaping up to be a political tsunami," National Republican Senatorial Committee strategist Brad Dayspring wrote to supporters, according to the publication.
For most Americans, the bigger questions are ones that aren't yet clear, such as: How will the plan work? And how painful will it be to the pocketbook?
Follow Aimee Picchi on Twitter at @aimeepicchi.
In business, it's almost always good practice to under-promise and over-deliver. But since you have no business experience, Mr. Obama, it's no surprise that you would consistently do the opposite.
Let there be likes
It is not what your country can do for you
but......how your country can screw you!
Mr. President, don't forget to blame Congress and the previous administration, you must be slipping. We grow weary of your agenda and antics.
Someone. I wish the sheep could grasp what you have said. Cure/treatment. Which
one make you a billionaire? Huh??
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market finished an upbeat week on a mixed note. The S&P 500 shed less than a point, ending the week higher by 1.3%, while the Dow Jones Industrial Average (+0.1%) cemented a 1.7% advance for the week. High-beta names underperformed, which weighed on the Nasdaq Composite (-0.3%) and the Russell 2000 (-1.3%).
Equity indices displayed strength in the early going with the S&P 500 tagging the 2,019 level during the opening 30 minutes of the action. However, ... More
More Market News
As geopolitical tensions threaten to spin out of control, investors are wondering how best to position their portfolios for the global turmoil.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'