Posted on 02/11/2014 3:53:03 AM PST by SoFloFreeper
The nonpartisan Congressional Budget Office was heard all over Washington last week when it released its updated budget and economic outlook. Now, the office is attempting to be understood.
CBO on Monday posted a "Frequently Asked Questions" document aimed at clearing up the outlook's most controversial conclusion, an estimate that Obamacare would reduce the number of hours worked by the equivalent of 2.5 million full-time workers in 2024.
(Excerpt) Read more at nationaljournal.com ...
Will 2.5 million people lose their jobs in 10 years, thanks to the ACA? “We would not describe our estimates in that way,” Elmendorf wrote Monday.
It’s a matter of choice, he said. “Because the longer-term reduction in work is expected to come almost entirely from a decline in the amount of labor that workers choose to supply in response to the changes in their incentives, we do not think it is accurate to say that the reduction stems from people ‘losing’ their jobs,” Elmendorf wrote. Whether or not people choosing to work less is beneficial to society or the economy more broadly “is a matter of judgment,” he said.
The Titanic is just listing ...
This is total B.S. They’re supposed to be nonpartisan. What the hell is is going on in this country and who the hell in congress is going to step up to stop it?
Once a person earns 1 dollar more than the subsidy level, your cost for insurance can increase by $10,000 more a year.
So turn down that raise or work less hours to make sure your subsidy doesn’t go away.
I think what they are saying is that if government makes it more appealing to do nothing then most people will choose to sit in their ass.
CBO: “America, we misspoke. We, uh, received some type of severed animal head in front of our offices, along with a note printed on official Obama stationary. We clarify our report to say, Comrades! Obamacare will create utopia!”
Sounds like you have a grasp of what happened.
The CBO is NOT “non-partisan.” It lied in 2009, stating that ObamaCare would not cost a trillion dollars so that the Democrats could ram it through. Now, it’s covering up for Obama’s destruction of the American economy.
Dismantle this worthless arm of the Democrat Party. All government is run by the Left to destroy the freedom of Americans.
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