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Thanks Obama! Care- Now with 25% Fewer Jobs! ^ | February 5, 2014 | John Ransom

Posted on 02/05/2014 5:23:35 AM PST by Kaslin

The Congressional Budget Office just confessed that the healthcare law passed by Democrats and only Democrats in 2010—you know the one that was supposed to save us so much money?-- is really a dud, a job killer, as we have said all along.

And the consequences aren’t just that some guy you don’t know won’t have a job, the consequences are that guys you DO know won’t have jobs, and --in the best case—your tax bill will go up accordingly.

The reform package, derisively known as Obamacare, is going to cost the country an additional 2 million jobs by 2017 says the CBO in a new report. That’s in addition to the 6 million jobs Obama’s already managed to kill by reforming the greatest, most vibrant economy in the world.

“The Congressional Budget Office on Tuesday said that the Affordable Care Act will contribute to the equivalent of 2 million workers out of the labor market by 2017,” reports Yahoo’s Business Insider, “as employees work fewer hours or decide to drop out of the labor force entirely.”

As I wrote previously, the labor union-controlled Economic Policy Institute (EPI) estimated recently that the numbers of missing worker in the country has grown to 5.9 million people under Obama, through dropping labor participation rates.

These are people who have become so discouraged by the job market that they stopped looking for work entirely.

Imagine a state the size of Illinois being completely unemployed: That’s how many people we are talking about when combined with the new CBO estimate.

Actually you don’t really have to imagine: Illinois is trending that way anyway, with the third highest unemployment rate in the nation.

Thanks Obama! Care.

Since Obama took office, the country has added a little less than 2.5 million additional jobs while the populations from which we draw workers have grown by 12 million people.

That means that we have only created 10,000 new jobs per state per year, or 27 jobs per day per state.

With the entire federal government straining itself and Obama waving around his mighty pen, one would think that we could do better than that.

Mitt Romney would have done better. Donald Trump would do better, even if he fired them too.

Jimmy Carter would have done better, as well.

Not coincidentally, the unemployment rate amongst government workers is 3 percent, according to the BLS, which not coincidentally is about half of the new “natural” employment rate predicted by the Congressional Budget Office.

“The CBO also thinks it will be a long time before the country gets back to full employment,” says the Washington Post’s Wonk blog. “The unemployment rate isn't expected to fall below 6 percent until late 2017.”

Full employment means 6 percent unemployment?

Say what you want about George W. Bush, but people had jobs under Bush with unemployment only going above 6 percent once during eight years in office. It’s hard to create jobs when you are at full employment. 6 percent unemployment, the max under Bush, is Obama’s new “natural” unemployment rate.

O let’s just say that there are many problems that can be solved when people have jobs.

Conversely, not having jobs is a bummer.

I only say this on the off chance that someone in the White House is sitting on the can reading this column surreptitiously via their Blackberry—you know, without the NSA monitoring them.

How big of a bummer are no jobs?

Well getting past the obvious problem that the ratings for The View go up, a state the size of Illinois—which is roughly the size of the workforce problem we have-- puts out about $700 billion in GDP annually, or about 4 percent of our GDP. That’s about $225 billion in missing government tax revenues yearly.

While the Obama administration argues about the “fairness” of tax rates for corporations, or the “fairness” capital gains tax rates, I know this one thing: There’s nothing fairer than raising tax revenues by giving someone a job.

And that’s likely the real liberals problem with this very simple idea that the way out of our difficulties begins and ends with job creation.

It’s an ideal that actually is fair to everyone, and liberals can’t have that.

TOPICS: Business/Economy; Culture/Society; Editorial
KEYWORDS: cbo; incometax; jobs; laborforce; obamacare; obamarecession; obamataxhikes; unemployment

1 posted on 02/05/2014 5:23:35 AM PST by Kaslin
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To: Kaslin

And the unbelievable spin for people working fewer hours (so they can get subsidies for O-care) is, “see what a wonderful thing this is, now people don’t have to work as hard to get health coverage!”

2 posted on 02/05/2014 5:27:16 AM PST by Thorliveshere (Minnesota Survivor)
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To: Kaslin

I guess this is why the commie libs insisted that free condoms be a major benefit of ObamaCare. They knew everyone would be staying home and spending more time with their “family”.

3 posted on 02/05/2014 5:28:11 AM PST by FlingWingFlyer (ObamaCare. The "global warming" of healthcare plans.)
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To: Kaslin
Time for Boner to change the subject. Hey, lets do immigration!
4 posted on 02/05/2014 5:29:05 AM PST by JPG (Yes We Can morphs into Make It Hurt.)
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To: Kaslin

Ted Cruz was right....again. He is the smartest man in the USA.

5 posted on 02/05/2014 5:33:42 AM PST by txrefugee
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DEMOCRAT BoneHead can go to hell, and rapidly.

Only idiots and the evil voted for Obama, or ANY of the Democrats.
AND NOW, WE CAN ADD "Establishment Republicans" TO THAT LIST, ALSO!
They've lied to us, constantly, and really are "Collapsing the System".
And now, these "Useful IDIOTS" who voted for them, are buying the lies that "Obamacare was designed to work." ?
It was designed to fail from the start.
THEN ... THEY GO TO THE "SINGLE-PAYER SYSTEM". They've been sucking our wallets dry for over four years now on the "Obamacare" LIE.
Our Founding Fathers would have hung them already!

Lets review: So Democrats,
Sen Mark Kirk's statement Thursday, Dec 1, 2011 ... It's not our fault that DEMOCRATS raided the Social Security Trust Fund.
Let's remember ...

6 posted on 02/05/2014 5:34:29 AM PST by Yosemitest (It's Simple ! Fight, ... or Die !)
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To: Kaslin
“It’s about jobs. In it’s life, it [the health bill] will create 4 million jobs — 400,000 jobs almost immediately.”

-Nancy Pelosi

7 posted on 02/05/2014 5:37:16 AM PST by Obadiah (I Like Ted.)
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To: Thorliveshere

‘That’s about $225 billion in missing government tax revenues yearly. ‘
So just who do the ‘Progressives’ believe will make up that difference? I am personally preparing to have a ZERO tax footprint in the very near future. Even if that means I have to live in a van down by the river.

8 posted on 02/05/2014 5:46:25 AM PST by griswold3 (Post-Christian America is living on borrowed moral heritage)
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To: Kaslin
Per Cent of Population Employed

This is what Obama has done so far. As ObamaCare comes fully on-line expect another big downward step.
9 posted on 02/05/2014 6:02:21 AM PST by Paine in the Neck (Our Lives, our Fortunes, and our sacred Honor)
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To: Kaslin

And the slimes think this is just the thing people that only work for health insurance need. Idiots. We are surrounded by them.

10 posted on 02/05/2014 6:38:38 AM PST by b4its2late (A Progressive is a person who will give away everything he doesn't own.)
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To: Kaslin

At some point, when you’re bringing home $640 (before taxes) every two weeks and Obamacare is taking $429 every two weeks and you have a $4-5K deductible, what do you do? You go without insurance (but the real person in this example is terrified of the ‘tax people’ if he doesn’t have insurance) or you make less and get it all subsidized.

Eventually, those trying to do the right thing and working hard either can’t make ends meet any more or they decide to go the route of the bloodsuckers out there that are slurping up all the freebies without losing sleep over it. One day, there won’t be enough people working to pay for it all and then all heck will break loose - those who live by freebies (EBT, etc.) have no way to provide for themselves with food, etc. and those who have worked hard for what they have will be forced to defend it.

11 posted on 02/05/2014 7:04:18 AM PST by Qiviut (It's hard to be a donk if you're sane & it's hard to be a pubbie if you have any integrity.)
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