White House: It's A Good Thing That Obamacare Will Drive 2.5 Million Americans Out Of The Workforce

Yahoo/Forbes ^ | 05/05/2014 | Avik Roy,

[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.

[Teotwawki]

It’s not really that anyone is losing their job or being driven from the workforce. It’s more that our government has provided so much support for the poor that a person can enjoy the same middle class standard of living by living on the dole as someone working their butt off, so why would anyone work their butt off?

[DownInFlames]

Approximately 25 million.

[blackdog]

But last week Obama wanted M.Y.R.A. accounts for retirement! How can one reduce hours worked to the level of getting government handouts for insurance and save their money for retirement?

Doesn't one contradict the other? Or at least cancel each other out?

[Jonah Vark]

President Obama denies expanding welfare state

Avik Roy, senior fellow at the Manhattan Institute, weighs in.

The more you pay people not to work, the more you discourage people from seeking a job because they make more money sitting on welfare payments. And as a result you have a smaller and smaller tax payer base that’s paying for all these benefits... Margaret Thatcher once said “The problem with socialism is you eventually run out of other people’s money”.

http://www.youtube.com/watch?v=e0tfGeKWF30

[ThunderSleeps]

Is that on top of the 6 to 8 million working age people the obama economy has already forced out of the workforce? {Expletive} disaster. That is the only way to describe the effect of obama’s policies and ideology on America. Results this bad cannot be obtained by accident, this is intentional.

[Iron Munro]

We used to joke that Obama would drive people out of the work force so he could claim ZERO unemployment.

[headstamp 2]

The GOP has so much political fodder from this moron and they absolutely take no advantage from it.

Their answer is to push amnesty.

[headstamp 2]

“The GOP has this as a campaign issue, and instead has chosen to rile its conservative base with renewed amnesty nonsense.”

Incredible isn’t it. The stupid party strikes again.

[426cuda]

That’s funny! :-) Thanks for giving me my laugh of the day.
After all you don’t want to get wished away into the cornfield.

But it’s good that you’re making jobs go away, President Obama, - it’s real good. And tomorrow - tomorrow’s going to be a real good day!

[mrsmel]

Yes, now Americans can do what Obama did his whole life-acquire some pretend title and sponge off other people. The only monkey wrench in the works is, who’s going to be the sucker who actually works and produces for the leeches? Will there be “designated” workers, ie, slaves?

[mrsmel]

Yes. I think this answers the question of whether Hussein &Co are that incompetent, or that evil. They’re that evil. Hussein himself is most likely that incompetent, having never accomplished a single thing on his own in his life, but those whose tool he is, are competent and evil.

[windcliff]

lol

[eyedigress]

[GeronL]

Wonderful. Obama has liberated Americans from employment.

[nascarnation]

It’s all a big party until the market puke up the fake money...

[ully2]

Its all over of America, the long slide to Socialism.

[St_Thomas_Aquinas]

2.5 million people will have the opportunity to become unemployed.

They said the same thing when Bush was president.

No, wait.

When unemployment was 4.9% under Bush, Pelosi said:

"January 4th 2008, ‘This morning’s jobs report confirms what most Americans already knew- President Bush’s economic policies have failed our country’s middle class."

[426cuda]

lol I was waiting for someone to post that picture. I never learned how to post pictures so you beat me to the punch. What a classic Twilight Zone episode that was. My favorite.

[eyedigress]

I watched it 5 days ago on Hulu. Timing is everything! :^)

[nascarnation]

Terms not seen in media since Jan 09:

McJobs
Recovery for Wall $treet but not Main Street
Homeless problem