As 2013 comes to a close, many are looking forward to the year ahead with many questions. How will Obamacare work? Will interest rates rise causing a Wall Street selloff? What about the NSA’s surveillance programs?
Every year people seem to say “this was such a terrible year – I can’t wait until next year.” And 2013 certainly had its share of woes. Next year, however, looks like it will be a carry-over year for some of the biggest issues facing the U.S. as Bloomberg Businessweek’s “The Year Ahead 2014,” looks into the crystal ball for 2014.
One of the biggest concerns for the U.S. population when the calendar turns is the implementation of The Affordable Care Act, better known as “Obamacare.” The website that launched roughly two months ago is still plagued by problems, applicants are not always sure their information has been successfully received, and millions are losing their current plans in spite of the President’s regularly repeated promise of “if you like your plan, you can keep your plan.”
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Security has been a huge part of the concern with Obamacare. The data security of not just the information submitted during the application process, but the added requirement of digitizing all healthcare records for Americans. The initial belief was that digitizing records would save time and money. Many consider 2014 the “must succeed” year for the digitization project.
Many will also have an eye towards Wall Street in 2014. Interest rates have been incredibly low the last few years. While this has been great for borrowers, it hasn’t been the best for lenders, as it has limited how much they can charge – and ultimately profit. There is great speculation that interest rates will begin to rise next year, which may put the market in flux. While it may prove a hard pill for borrowers to swallow, those who have been watching their IRAs gain only pennies on the dollar might be pleased with the increased rates.
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Finally, an issue that will raise even more attention in 2014 is U.S. energy production. Many are looking to new technology for deep water drilling in the Gulf and hydraulic fracturing (better known as “fracking”) to solve the foreign dependence on oil. These are two hot button topics that are sure to continue divide opinions on the use of fossil fuels, protecting the environment, job creation and more.
Businessweek’s The Year Ahead issue is available now until January 2, 2014.
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