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 ...
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.
Did Pinocchio have a Woodpecker?
“Will Obamacare destroy jobs?”
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Oh, I don’t know, will the Titanic sink?
Is Obama a limp-wristed Marxist Muslim?
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