Tags: Gallup | Poll | Obamacare | economy

Gallup Poll: Obamacare Does More Harm than Good to Economy

Friday, 06 July 2012 07:36 AM

More Americans feel President Barack Obama's Patient Protection and Affordable Care Act will hurt the economy than help it, a Gallup poll finds.

The Supreme Court upheld the constitutionality of the law last week.

The Gallup poll finds that 46 percent feel the law will hurt the national economy, while 37 percent feel the law will help it. Another 18 percent said they didn't know or said the law will have no effect on the economy.

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Healthcare spending accounts for roughly one-fifth of the U.S. gross domestic product, and changes to its legal framework will likely influence the economy though it's probably too early to say how, given the complexity and the newness of the law, which was passed in 2010.

"Proponents of the ACA [Affordable Care Act] argue that it has many benefits, including in particular decreasing the number of Americans who don't have health insurance," Gallup reports.

"Opponents argue against it partly on philosophical grounds, decrying the ACA's reliance on government to control this personal aspect of Americans' lives. The practical impact of the law on the healthcare system and the economy will not be fully known until it has been place and medical providers and consumers react to the changes."

The law, among many other things, would require Americans to buy health insurance or pay a tax, which Republicans have criticized.

Editor's Note: How You Lost $85,000 During the Last Decade. See the Numbers.

"The Supreme Court has the final word. And their final word is that Obamacare is a tax. So it's a tax," says GOP presidential hopeful Mitt Romney, according to CBS News.

"It's — they decided it was constitutional. So it is a tax and it's constitutional. That's — that's the final word. That's what it is. Now, I agreed with the dissent. I would have taken a different course. But the dissent wasn't the majority."

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Friday, 06 July 2012 07:36 AM
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