For Immediate Release – July 31, 2012Contact: Mike Proto, 201-487-8844/201-281-2700Contact: Steve Lonegan, 201-487-8844/201-881-6682
Americans for Prosperity Foundation Honors Late NobelLaureate Milton Friedman
Celebration of Friedman’s Life’s Work Promotes the Free-Market, Limited Government Vision Championed by the Famed 20
TEANECK, NJ – An Americans for Prosperity Foundation (AFPF)-sponsored event held today in Teaneck tohonor the late Nobel Laureate Milton Friedman drew more than one hundred New Jersey citizens on the date of what would have been his one-hundredth birthday. TheFriedman Legacy for Freedom luncheonevent was part of an international celebration of the leading 20
century economist, renowned for his theories on free markets andlimited government.Friedman’s free-market, limited government vision was at the heart of addresses delivered by two esteemed policy scholars:
Cannon, one of the nation’s leading experts on the health care exchanges called for as part of the federal healthcare takeover, spoke about ObamaCare and outlined the consequences of creating an exchange in New Jersey andother states. Cannon said ObamaCare would prove costly, result in thousands of lost jobs and more people losingtheir coverage.
“This is going to be an incredibly costly and incredibly harmful law,” said Cannon. “The CongressionalBudget Office…ha[s] estimated that this law is going to eliminate 800,000 jobs by year 2019.”“Even supporters of the law acknowledge that some people’s premiums will double; increase by thousandsof dollars even after you apply all the subsidies that are supposed to shift cost to taxpayers.”“The Robert Wood Johnson Foundation estimated [one regulation] would cause 55,000 very sick Americans, never mind the healthy people, to lose their current coverage. And once these health exchangestake effect even more people are going to lose their coverage because the law creates an enormous incentivefor employers to drop benefits, particularly for low-income workers.”
Cannon indicated that the subsidies, which would be doled out through the state-based exchanges, are part of thehealth care law’s “three legged stool” (along with the individual mandate and cost controls) and that the law couldnot survive without them.