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A consistent trend across the country is that rising health care costs are putting pressure on both businesses and families and that the labor market is weakened.
Higher health care costs could add to the financial squeeze felt by many families, who are already coping with higher grocery, utility and housing prices, noted Lindsay Owens, executive director of the Groundwork Collaborative. "You can't really go without health care, so something else will have to give," Owens said. That could mean cutting "a family vacation, a family trip to a soccer game, or putting groceries on the credit card so you can clear the health care premiums."
“This isn’t just an inequality story — it’s a macroeconomic story,” said Lindsay Owens. “As the wealthy continue to consume, that’s masking more and more insecurity and instability in the economy under the hood.”
"Today’s young adults are being squeezed from every direction," said Lindsay Owens, "Rent and mortgages are increasingly out of reach, student loan payments swallow much of their paychecks, and corporate profiteering has pushed prices even higher on top of already punishing inflation. For Gen Z, these barriers are especially steep."
The U.S. economy is on ice, and instead of offering solutions, Republicans are sending a clear message.
Kitty Richards at economic policy thinktank Groundwork Collaborative said: “And 4 million people are likely to forego coverage because they can't afford it anymore.”
Tonight, President Trump and Republicans in Congress have continued their refusal to negotiate with Democrats to protect health care and keep the government open.