Monday,  Aug. 19, 2013 • Vol. 15--No. 35 • 8 of 29

Searching for Economic Recovery
By Senator John Thune

• It was three years ago that the Obama administration dubbed the summer of 2010 the "summer of recovery." Three years later, many Americans are still searching for recovery as our economy continues to struggle under the weight of stagnant economic growth, high unemployment, and dwindling household income. National unemployment remains well above 7 percent, while the economy grew by just 1.7 percent in the second quarter. The median household income has dropped by more than $2,700 since June of 2009, yet health care premiums for American families have skyrocketed by nearly $2,500.
• As premiums continue to rise throughout the country, and businesses reduce the number of employee hours, it has become increasingly clear that the president's signature health care law is crushing jobs and economic growth. According to a recent survey conducted by Gallup, 41 percent of small businesses owners have said they have held off on hiring new employees and 38 percent have pulled back on plans to grow their business due to ObamaCare. According to Labor Department data reported by CNN Money, "The number of Americans finding part-time jobs has surged this year, with more than four times as many getting only part-time work as opposed to full-time jobs." In South Dakota, the South Dakota Division of Insurance recently published the exchange rates for 2014, and it appears that individual plans on the exchange will be significantly higher.

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