Is a "huge train wreck" coming?

Sen. Max Baucus (D-Mont.), has warned that implementation of ObamaCare could be a “huge train wreck.”  Nobody is more aware of this possibility (inevitability?) than the small business owner who is being FORCED to comply.  Their response OF COURSE is to cut jobs, work hours, and future growth plans.  Anyone with any sense can see this coming as clear as day, BUT, is it part of your business story?  It should be...Dennis

Small Businesses Cutting Jobs, Hours to Save Themselves From ObamaCare

ObamaCare, Americans were assured, would create millions of jobs and be a boon to small businesses. But according to a recent survey, as full implementation of the healthcare law rapidly approaches, small-business owners, rather than rejoicing at their good fortune, are slashing jobs, work hours, and expansion plans.

The Gallup poll, commissioned by the law firm Littler Mendelson, found that because of ObamaCare, 41 percent of small businesses have instituted a hiring freeze, 19 percent have shrunk their workforces, and 18 percent have “reduced the hours of employees to part-time.” Nearly four in 10 small businesses — 38 percent — told pollsters they “have pulled back on their plans to grow their business” in anticipation of the law’s implementation.

“We were startled because we know that employers were concerned about the Affordable Care Act and the effects it would have on their business, but we didn’t realize the extent they were concerned, or that the businesses were being proactive to make sure the effects of the ACA actually were minimized,” Littler Mendelson attorney Steven Friedman told CNBC.

“To think that [nearly] 20 percent of small businesses have already reduced the numbers they have in their business because they’re concerned about the medical coverage is significant, and a bit troubling,” he said.

“We don’t know until 2014 and beyond what the impact of the ACA will be on businesses,” added Friedman, whose firm recently formed a healthcare-reform consulting group. “There is tremendous fear that the premiums will be much higher, for small businesses especially. At this point we can’t look a client straight in the eye and say, ‘Don’t worry about it. Everything will be fine.’”

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