More Great News for Obama: Americans to Face Tougher 2013 on Rising Prices, Taxes and Costlier Healthcare

Posted by on Oct 25, 2012 at 7:58 am

We can envision the Obama campaign hacks on the phone to the folks at Reuters excoriating them for pointing out  the ugly truths of this failed administration: Everything costs more and if Obama is re-elected things will be getting a whole lot worse.

Consumers will have to dig deeper into their pockets next year to pay for costlier healthcare, more expensive grocery bills and higher taxes, an extra drag on the country’s already slow-moving economy.

The additional outlays look set to test the resilience of consumers, whose spending accounts for around two-thirds of the U.S. economy.

“We think it’s going to be a difficult six to nine months,” said Scott Hoyt, senior director of consumer economics for Moody’s Analytics. “If anything, conditions are likely to get worse, particularly at the start of the year.”

We wonder how many of the braindead Obama voters realize how much more they’ll be paying in taxes? They’re mostly  low-information voters, so we doubt they have a clue.

Boy, won’t they be in for a shock.

Another area of concern for consumers is food prices. Rises in the prices of corn and soybeans and other field crops as a result of drought this year in the U.S. Midwest are expected to feed through into food prices late this year and in early 2013.

U.S. soybean prices jumped 40 percent over the summer, while wheat shot up about 50 percent. Prices have eased a bit since then, but the increases are expected to filter down to consumers.

“We are starting to see evidence of food prices moving up so that’s definitely going to be a drag on disposable incomes,” said Hoyt of Moody’s Analytics.

The economy will barely be hanging on if this failure is re-elected. Don’t say you weren’t warned.

Another big extra outlay will be in healthcare premiums, which on average are costing employees more than $2,200 in 2012, according to Aon Hewitt, a human resource consulting firm.

Average health care premiums are forecast to jump by 6.3 percent in 2013, according to Aon Hewitt

Over the last five years, employees’ share of healthcare costs will have increased more than 50 percent, it said.

Great thing we’ll have ObamaCare, huh?

2 Responses to “More Great News for Obama: Americans to Face Tougher 2013 on Rising Prices, Taxes and Costlier Healthcare”

  1. Tobias on 25/25/12 at 10:53 am

    I haven’t seen any coverage of this yet, but I received a notice from Blue Cross/Blue Shield letting us know that our premiums were expected to increase 40% or more with the implementation of Obamacare.

    In response, they’ve figured out a grandfathering system, so that our premiums for our family will only rise 8-10% the next two years, and then 40% the year after that. This year, we’re paying a little over $1,000…and in two years we’re looking at $2,000 a month. Which is about what I got paid for my first job.

    We won’t be able to afford that, and so instead of responsibly holding health insurance for decades, it’s all in peril.

    Thanks, Barak.

  2. Evilpa on 25/25/12 at 11:34 am

    My health insurance premium has increased by 1/3, and my deductible has increased from $500 to $10,000 in order to keep the premium in a range I can afford. Its a good thing I have money saved, but one severe illness, and I could be in trouble! On top of all that, my doctor retired earlier than planned because of Obamacare.