Posted on 02/05/2014 12:20:08 PM PST by Responsibility2nd
Yesterday, Washington’s official non-partisan bean-counter, the Congressional Budget Office, dropped a bomb. By 2024, says the CBO, Obamacare will reduce the size of the U.S. labor force by 2.5 million full-time-equivalent workers. That’s roughly triple what the CBO had estimated three years ago. Such a sizeable decline in the labor force will have substantial detrimental effects on the U.S. economic and fiscal picture. But the CBO wasn’t responsible for the most amazing thing that happened yesterday. That title belongs to the Obama White House, where Press Secretary Jay Carney claimed that 2.5 million Americans leaving the workforce was a good thing, because they would no longer be “trapped in a job.”
Here’s what happened. In its annual, 182-page Budget and Economic Outlook, the CBO undertook an overhaul of the way it analyzes the effect of Obamacare on the job market. The new, larger estimate of the law’s negative impact on the labor force derives from three factors: (1) Obamacare’s employer mandate, which will discourage hiring and reduce wages offered by employers; (2) Obamacare’s $1 trillion in tax increases, which will discourage work and depress economic growth; and (3) the law’s $2 trillion in subsidies for low-income individuals, which will discourage many from remaining in the labor force.
Let’s focus on that last point, because it’s the one that has been the least-discussed in the media.
(Excerpt) Read more at forbes.com ...
Just. Damn.
“Over the longer run, CBO finds that because of this law, individuals will be empowered to make choices about their own lives and livelihoods, like retiring on time rather than working into their elderly years or choosing to spend more time with their families. At the beginning of this year, we noted that as part of this new day in health care, Americans would no longer be trapped in a job just to provide coverage for their families, and would have the opportunity to pursue their dreams.
~~ Jay Carney
That means it's working the way it was designed to work. Just wait until they open the valve all the way.
all this so that we can give coverage for about 2 million that didn’t have insurance?
But 2.5 million is chicken feed. But, as they say, it's a start.
"If you like your job, you can keep your job."
It’s good that Obama did that, it’s real good.
Obama supporters are clueless. Sheep being led to slaughter.
I wish Obama was not ‘ trapped in a job ‘
He needs to be liberated
“Don’t act surprised, either. Nancy told you this was coming. Look on the bright side: If fewer people working is a sign of economic success, the Obama presidency will be remembered as a golden age.”
http://www.freerepublic.com/focus/f-news/3119387/posts
I guess work is now considered being “trapped in a job”.
I suppose welfare dependence is considered (by this administration) being elevated to the position of pursuing one’s dream of luxury retirement on someone else’s dime?
I swear if it weren’t for the alphabet news channels this clown would be unemployed. And his spokesman too.
We want Obama and all his followers/appointees driven out!
Room for 2.5 million more immigrants!
Thanks for paying my Social Security and Medicare!
New jobs in burglary, auto theft, drug dealing and shoplifting is a likely talking point for Pelosi. It addresses income inequality since thugs won't have an income other than government entitlements.
How many Americans will be killed by 0bama by then?
Well Obama did say, if you like your job you can keep your job..I guess in the minds of liberals, your job was also “Substandard” and needs to go..remember the liberal motto, the more people on Govt goodies the more likely you are to vote Democrat
I am staying at my job (which is a very poor fit for a lot of reasons) precisely because the company offers decent insurance coverage and management decided not to shift anyone to part-time.
I’m thankful I’m working at a crappy job to save my family from obamacare!
The GOP has this as a campaign issue, and instead has chosen to rile its conservative base with renewed amnesty nonsense.
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