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Will Obamacare destroy jobs?
The Economist ^ | August 21, 2013

Posted on 08/21/2013 4:23:29 PM PDT by Oldeconomybuyer

Opinions are furiously divided as to whether the unintended harm caused by health reform will outweigh its benefits. Republicans, who have always hated the whole package, howl that it will destroy jobs. Nonsense, say Democrats; it will promote growth and boost employment. Since the law has so many moving parts, it is hard to predict who is right. But there is a risk that a lot of workers will be hurt.

Mr. Obama has said that workers who like their company-provided insurance will be able to keep it. This is like promising that if you like sunshine, it won’t rain. Actually, it is even more misleading. When he shakes up the health-care market, employers will have no choice but to respond.

More worrying, though, is the possibility that Obamacare may kill jobs. In 2010 the Congressional Budget Office (CBO) projected that it would shrink employment by 0.5%.

Another concern is that Obamacare will lower wages. For example, if firms that do not now offer insurance comply with the mandate, their costs will jump. Nearly 60% of such firms say they will offer coverage, according to Mercer. As health costs rise, they may pay their staff less.

Interestingly, the number of jobs in sectors most affected by Obamacare, such as retail, leisure and hospitality, have grown relatively quickly, notes Alec Phillips of Goldman Sachs. But the hours worked in such industries have grown more slowly, suggesting a reluctance to add more full-time jobs.

When the final diagnosis is done, Obamacare may have nasty side-effects.

(Excerpt) Read more at economist.com ...


TOPICS: Business/Economy; Culture/Society; Editorial; News/Current Events; Politics/Elections
KEYWORDS: failure; jobs; obamacare; socialism

1 posted on 08/21/2013 4:23:29 PM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

“Will”?

It already has.

We’re only growing part time jobs now.

Isn’t that destruction quite enough, and quite obvious?


2 posted on 08/21/2013 4:25:26 PM PDT by Uncle Miltie (Where's my pressure cooker backpack wmd ricin laced al qaeda terrorist BASSELOPE?)
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To: Oldeconomybuyer

Will? I think we’ve moved on to “How many?” - or- “Will there be any jobs left?”


3 posted on 08/21/2013 4:26:27 PM PDT by IamConservative (The soul of my lifes journey is Liberty!)
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To: Oldeconomybuyer

Is the Pope Catholic??


4 posted on 08/21/2013 4:29:03 PM PDT by CMailBag
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To: Oldeconomybuyer
who ever wrote this should be fired, since they don't even understand the business model of a lemonade stand!

will it??? please...

5 posted on 08/21/2013 4:31:14 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -ww- NO Pity for the LAZY)
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To: Uncle Miltie
Lessens the number of private sector jobs.

Increases the number of gov't jobs.

Another win for King 0bama.

6 posted on 08/21/2013 4:32:13 PM PDT by GeorgeWashingtonsGhost
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To: Oldeconomybuyer
The question has already been answered. Of COURSE nobamacare is destroying jobs.

I know the Traitor in Chief just got back from vaca and he has a new dog to play with and I'm sure there are lots of other "American destroying" things on his to do list. So maybe he hasn't had time yet to scan this: Gallup: Unemployment Rate Jumps from 7.7% to 8.9% In 30 Days. That link goes straight to the Breitbart article. Here's the article on FR. Not the best excerpting job. Just one sentence.

7 posted on 08/21/2013 4:33:04 PM PDT by upchuck (My therapist says I have a preoccupation with vengeance. We'll see about that!)
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To: Oldeconomybuyer

Well it will certainly take away from my disposable income. If I have to come up with 1500.00 a month for “Medicaid” I’m screwed because I don’t have that available. Now if they would not deduct the 1500.00 for taxes from each paycheck then I could give them that. They base your income on Pre tax which is not what you end up. I can’t even think about it without going bananas.


8 posted on 08/21/2013 4:35:40 PM PDT by funfan
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To: Oldeconomybuyer

Is a bear Catholic?


9 posted on 08/21/2013 4:36:10 PM PDT by NonValueAdded ("When there is no penalty for failure, failures proliferate." George F. Will)
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To: Oldeconomybuyer

Will? Has anyone looked at full time employment? It’s dropping. Most new jobs are now part time in order to get around owebamacare.

Nevertheless, it’s not a bug, it’s a feature.


10 posted on 08/21/2013 4:42:59 PM PDT by RKBA Democrat (Power disintegrates when people withdraw their obedience and support)
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To: Oldeconomybuyer

Absolutely!!!

No question.


11 posted on 08/21/2013 4:47:39 PM PDT by KosmicKitty (WARNING: Hormonally crazed woman ahead!!)
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To: Oldeconomybuyer

Does a hurricane cause damage? I know the Economist is a lefty rag but even these people know when they crunch the numbers this plan is a disaster.


12 posted on 08/21/2013 4:51:59 PM PDT by dowcaet
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To: Oldeconomybuyer
When the final diagnosis is done, Obamacare may have nasty side-effects.

MAY have? ROFL! Ask anyone who works at UPS if Obamacare "may have" affected their health care insurance.

The list of companies that Obamacare "may have" affected is growing DAILY!!!!!!

13 posted on 08/21/2013 4:57:09 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: Uncle Miltie

“The Economist” is left wing. The fact that they are admitting to bad economic effects is proof the fifth column is trying to retain its image of a fourth estate (the press/guardians). If they keep singing the O’s praises, they’ll lose credibility and readership.


14 posted on 08/21/2013 5:09:40 PM PDT by tbw2
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To: Oldeconomybuyer

Bear + woods + ex-lax = ?


15 posted on 08/21/2013 5:25:12 PM PDT by Caipirabob (Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: Oldeconomybuyer

“How Many Jobs Has Obamacare Destroyed Already?”

That’s the story not being covered.


16 posted on 08/21/2013 5:27:05 PM PDT by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: Oldeconomybuyer

These consequences aren’t unintentional.

Reduced hours mean more people on the dole while increasing the number of employees necessary for the same amount of work.

Killing jobs while distorting the job numbers. It was a well-planned two-fer.


17 posted on 08/21/2013 5:29:14 PM PDT by ziravan (Not Guilty.)
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To: Uncle Miltie

It will take main stream media a couple of years to realize all the jobs are gone, about the time they lose theirs.


18 posted on 08/21/2013 5:39:14 PM PDT by ully2
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To: Oldeconomybuyer

Will 0’s delaying implementation of 0-care, will he qualification for number of employees be delayed as well?

If employers do not reduce their exposure now they my get caught in a trap in 2014.


19 posted on 08/21/2013 6:30:10 PM PDT by Joe Bfstplk
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To: Oldeconomybuyer

It will grow another huge level of feral government chock-full of well paid apparatchiks with great benefits, good pay, etc.
And beholden to the Democrats’ notions of Leviathan.


20 posted on 08/21/2013 7:26:25 PM PDT by tumblindice (America's founding fathers: All armed conservatives.)
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To: Oldeconomybuyer

This is from The Economist and the best they can speculate is “When the final diagnosis is done, Obamacare may have nasty side-effects.”? Lame. The author of this is chickens#!t.


21 posted on 08/21/2013 9:08:57 PM PDT by uncitizen (Obama is a sociopath!)
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To: Oldeconomybuyer
"When the final diagnosis is done, Obamacare may have nasty side-effects."

Did Pinocchio have a Woodpecker?

22 posted on 08/22/2013 9:45:54 AM PDT by Richard Axtell (Comming: The Abyss.)
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To: Oldeconomybuyer

“Will Obamacare destroy jobs?”
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Oh, I don’t know, will the Titanic sink?


23 posted on 08/22/2013 1:39:01 PM PDT by RipSawyer
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To: CMailBag

Is Obama a limp-wristed Marxist Muslim?


24 posted on 08/27/2013 12:49:46 PM PDT by Blood of Tyrants (Tyranny is defined as that which is legal for the government but illegal for the people. T Jefferson)
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