On Monday, I noted that ObamaCare regulations requiring employers to provide full (really full) insurance coverage to all employees may make running restaurants, which have a famously low profit margin, so prohibitively expensive that many will go out of business.
It turns out that we needn’t fear this eventuality, because we’re about to see a perfect confluence of two Obama policies. Restaurants can avoid the costs of ObamaCare by hiring only part-time employees. This is so because ObamaCare says that employers don’t have to provide health insurance for part-time employees. The down side of this is that the poor, part-time employees will have to provide their own insurance (or pay a penalty), not to mention struggling to pay for food and housing on a part-time salary. Or will they?
As you might have noticed, the economy has not improved measurably under Obama. Indeed, thanks to Obamanomics, college graduates are barely getting by:
In California, it’s long been the joke that prospective actresses come to the state to become waitresses. Now, thanks to the Democrat-created economy, so do college graduates. The newest census shows that between 2006 and 2011, the number of college graduates working as waiters doubled. Approximately 260,000 California college graduates below the age of 30 worked in low-level menial jobs in 2011, an increase of 60,000 over 2006.
And there you have it: the Obama economy provides ready-made part-time employees for a restaurant that can no longer afford full-time employees. Even better, these part-timers will live in their parents’ basements and, until they’re 26, get their insurance from their parents’ employers. Right now, we won’t worry about what happens when their parents’ employers can no longer bear the cost of providing for their own full-time employees, plus an increasing number of Obamanomics-created dependents.
What we’re seeing is the perfect symmetry of an imploding Leftist-managed economy.