Marcus: America to get 'very hurt' by Obamacare

ATLANTA -- The Home Depot co-founder Bernie Marcus says America hasn't seen anything yet when it comes to the problems and additional costs Obamacare is going to deliver to middle-class America.

In an interview Wednesday with Fox News' Neil Cavuto that included questions about the Affordable Care Act, Marcus said, "Well, Neil, it's just the beginning. Now you have to remember that the mandate, they put off the big companies until 2015, supposed to come in 2014 with everybody else. So you haven't really seen it hit. And I speak to a lot of business owners and small businesses especially, people who have 100, 200, 300, 400 people working for them."

Marcus said business people tell him they are studying Obamacare and can't say if they are going to stop carrying insurance on employees, or if they are going to put more people into part-time jobs.

Marcus added, "Neil, you haven't seen anything yet. And what you are going to see in January of 2015, right after the elections are over, boy, the Democrats look beautiful on this one. It is politics as usual. They have put off this thing because America is going to be hit so hard.

"All of middle-class America is going to get very, very hurt, very, very hurt by this. Because that is where it is going to come out. So if you are somebody working for a living, and you have been doing this for a number of years and your employer has been covering you and paying the premium for you, you are going to end up in two ways - No. 1 you are going to end up with very little insurance and you are going to end up with very, very high co-pays, and you are going to end up with just a mess on your hands."

Marcus said he doesn't buy that as more people enroll, costs will go down and more people will have good coverage at a good cost.

It is not true in the real world, Marcus said.

"Nobody has ever said to me, and I am talking about this year, nobody has said to me that their costs have gone down in insurance. They have all gone up."


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