WASHINGTON, D.C. – U.S. Senate Republican Leader Mitch McConnell made the following remarks on the Senate floor regarding higher healthcare premiums, smaller paychecks and fewer jobs for students and young workers in the Obama Economy:

“The Obama Economy has been pretty rough on our nation’s youth. If you’re a teenager looking for work over summer break, or if you’re a high-schooler looking for a part-time job after school, well, good luck. The unemployment rate for 16 to 19 year olds is 25 percent – which is near historic highs.

“If you’re a college graduate, things don’t look much brighter. In fact, the unemployment rate for 20-24 year olds is over 13 percent. And it hardly needs mentioning at this point that many Americans are likely to see their hours cut or their jobs disappear altogether as Obamacare comes online.

“That’s because, so far, we know the President’s new health law will impose about 20,000 pages’ worth of onerous regulations – and probably many more than that when all is said and done. Many of those regulations will hit small businesses – which create the majority of new jobs in this country – hardest, and many of those regulations will hit part-time workers pretty hard too.

“For instance, the law punishes businesses if they allow employees to work too many hours – so it is no surprise when we read any one of the numerous stories about companies slashing hours. And it punishes businesses if they dare to give jobs to too many people – so, of course, it will probably lead them to slash jobs or limit hiring.

“I’m sure the Washington Democrats who drafted Obamacare thought they were striking some blow for quote-unquote ‘fairness’ with these job-crushing ideas. Well, now the youth in our country are finding out what Democrats’ so-called ‘fairness’ means for them: smaller paychecks, or no paychecks at all.

“It must seem pretty unfair from where they stand. But it gets worse.

“Many experts predict that Obamacare will also cause health-care premiums to skyrocket – especially for younger Americans. Some studies show that young men in particular could see rate increases of 50 percent or more.

“Think about that: you work your tail off in high school just to get into a good college. You spend four years pulling all-nighters and cramming for finals – all for the privilege of putting on a gown, accepting your degree, and potentially spending who-knows-how-long frantically searching to find work.

“Then, if you’re lucky enough to find a job, your hours get cut.  Maybe your job gets cut altogether.

“You get a letter in the mail that says, ‘Sorry, your premium’s going up by double-digits.’

“Can’t pay the higher premium? Too bad. If you don’t, Uncle Sam slaps you with a penalty tax (and for all the talk of ‘subsidies,’ studies indicate that those payments from taxpayers might not even make up for the higher costs).

“Look: I’d be pretty disillusioned if I was in that position. Wouldn’t you? Well, it could get worse if Washington Democrats don’t start getting serious about working with Republicans on student loans too.

“As I mentioned last week, President Obama and Republicans actually agree in broad terms on the way forward for student loan reform. As the President’s Secretary of Education told Politico just yesterday, ‘My strong preference would be for a longer-term solution, and not to just keep solving it this year, and then the next year and then the next year.’

“So it’s time for Senate Democrats to stop blocking us from enacting permanent reform, because federal rates for new student loans are set to double if we don’t act soon. Several Senate Democrat leaders have basically already admitted to the media that they’d rather have a failed bill they can morph into a campaign issue than a signed bill that can help 100 percent of students.

“Well, it’s time for that to change. And they shouldn’t assume younger Americans will be that easily tricked in 2014. These young men and women may be drowning in the Obama Economy, but it’s not because they’re dumb. Or lazy. Or apathetic.

“It’s because of policies dreamed up in Washington during the years of the Obama Administration. And as the days go by, these young Americans are discovering just how unfairly Washington Democrats have treated them these past few years.”