SPENDING IS THE PROBLEMHistoric/Projected Spending & Revenue as a Share of Economy

10%

15%

20%

25%

30%

35%SpendingRevenue

Source: OMB/CBO

CRUSHING BURDEN OF DEBTU.S. Debt Held by Public as a Share of Economy

1941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028202920302031203220332034203520362037203820392040204120420%

50%

100%

150%

200%

WORLD

WAR II

CURRENT PATH

Source: OMB/CBO

House Republicans Senate Democrats

Taxes Calls for revenue-neutral tax reform. Imposes a tax increase in excess of $900 billion.

Spending Reduces spending by $4.6 trillion over the next decade. Increases spending by $265 billion over the next decade.

Spending Rate Restrains annual spending growth to 3.4% annually. Spending grows by 4.7% annually.

Deficit in 2023 $7 billion surplus. $566 billion deficit.

Balanced budget Yes—in ten years. Never.

Medicare Repeals Obamacare. Protects and strengthens Medicare.

Doubles down on Obamacare cuts. Is complicit in Medicare’s demise.

Defense Meets defense levels requested by Joint Chiefs. Cuts defense by an additional $240 billion.

Contrast in VisionsA Comparison of Fiscal Year 2014 Budget Resolutions

[1] The Senate Democrats’ budget resolution increases revenue by $923 billion over ten years. It includes reconciliation directives to increase revenue by $975 billion over ten years. According to the Senate Budget Committee Republican staff, if the resolution assumptions for offsetting the sequester ($480 billion) and stimulus ($100 billion) are included, it increases taxes by $1.5 trillion.

State Decisions For Creating Health Insurance Exchanges

http: Kaiser Family Foundation, statehealthfacts.org

17727Source: Kaiser Family Foundation, May 28, 2013, http://kff.org/health-reform/state-indicator/health-insurance-exchanges/#

3

10

2014: “State” Exchanges

Insurance “Marketplace” for Individuals and Small Business

HHS Administers Exchanges in Lieu of States; Some States Entering Into “Partnership” to Share Responsibility

“State” in Name Only: ACA Requirements and Federal Regulations Drive What Can Be Offered in State, Partnership and Federal Exchanges

Much of 20k Pages Of Regulations Issued so far Relate to Exchange/Insurance Regulation

Benefit Design, Cost-sharing, and Even Participating Doctors and Providers Subject to Federal Control and Oversight

$1 Trillion for Sliding Scale Premium/Cost-sharing Subsidies for Individuals/Families up to 400% of Federal Poverty

11

Labor Market Impacts• False Promise: Speaker Pelosi stated that the law “will

create 4 million jobs, 400,000 almost immediately.”• 71% of small businesses say the health care law makes it

harder to hire additional workers.• Spring/Summer reports of employers shifting workers to

part-time or 29 hours to avoid Obamacare rules. False Promise: President Obama said, “If you like your

health care plan, you can keep your health care plan.” 7 million fewer people will have employer-sponsored coverage

according to CBO. HHS estimates that up to 80% of small employer plans will lose

grandfathered status – triggering new requirements on the coverage Americans have today.

Examples of Employer Actions 12

Securitas ended mini-med plans – 55,000 employees to the exchanges

Home Depot – stopped covering 20,000 part-time workers UPS and UVA – no longer covering spouses with access

elsewhere Trader Joe’s – stopped coverage, giving 1,300 part-time

workers $500 for exchange coverage Commonwealth of VA – part-time limited to no more than

29 hours Walgreens (160,000), Sears and Darden Restaurants –

moved employees to private exchanges IBM (110,000) and Time Warner – moved retirees to

private exchanges