This year we will have to come to grips with the Affordable Care Act. Right now companies are deciding what type of health care to offer employees, if any. It is expected that many employers will drop coverage and workers will have to buy insurance as consumers. The debate over picking up the health care tab should only get more heated as health care—17.9% of GDP in 2011— takes over the economy.
There are good news scenarios for the U.S. economy in the months ahead. Among the most notable, the revolution in American oil and gas that will drive manufacturing and export activity. Another is that the 113 Congress finally acts on the three most pressing priorities: reforming the tax code, making Medicare sustainable and fixing immigration law. The goal for all is to jumpstart hiring and boost confidence in our nation's future prospects.