It might not seem probable that Obamacare could cause more foreclosures, particularly among the middle class, but these are not normal times.
When the Progressives decided to force an unwanted bill and unaffordable entitlements down America’s collective throats, they had a particularly copious amount of disdain for anyone who declined to purchase Health Insurance because they didn’t want it. It was these “deadbeats” who were the target of the mandate that all who could afford Health Insurance buy Health Insurance.
Only by demanding such a purchase under penalty of heavy fines could they get the numbers to work out. you see, forcing more coverage on Insurers like the elimination of maximum plan payouts and preexisting conditions and forcing free procedures and some prescriptions, Insurance Companies would never have gone along with Obamacare. It would have forced them to raise premiums. Something the bill also limits.
But with millions of new customers, the numbers worked.
But a lot has changed since this bill passed two years ago. First, we are still in a recession with no signs of improvement, unless you drink in government unemployment numbers dipped in Government Controlled Kool-Aid.
The unemployment rate has declined because they have taken millions of people – who are unemployed – out of the workforce.
There are millions of fewer people working today than when Obama took office. There simply are not enough jobs to go around.
And a sad new phenomenon has developed. There are lots of people who no longer have Health Insurance because they lost their primary income, or one spouse has lost a job and they are barely hanging on to their home. They may be working 2 or 3 jobs and doing whatever they can to keep up with mortgage payments.
And they had to make a tough decision. Health Insurance or Mortgage payment.
The fact is, they probably have more house than they really need. Their pre-Obama income was far greater than what they make now. But selling is nearly impossible and they may even be somewhat upside down on the mortgage. Not enough to qualify for any programs, but enough to make selling impossible.
So they are riding out the storm. Doing without. And many of these are not really in the age bracket where they can afford to be without Health Insurance. They rolled the dice and paid the mortgage. Shelter takes prescient.
Enter Obama and his mandate. These people can’t afford to sell and and can barely afford to stay.
A mandate will push them over the edge. They will be unable to pay the Obama mandated fine and their home will go back to the bank.
These people were not the “arrogant” young people the Progressives targeted. The ones who chose a BMW and a nice pad over Health Care. They are not the young and “invincible” idiots the mandate targeted.
No, they are a new class. They are the multi-job, under employed victims of the failed Obama economy. They are struggling t9 keep their head above water hoping for the tide to eventually turn.
There is no life raft for these people. And when the mandate kicks in, Obama will toss them an anchor.
Unintended victims of Obamacare. But victims nonetheless.