Posted on 02/05/2014 12:20:08 PM PST by Responsibility2nd
Yesterday, Washingtons 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. Thats 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 wasnt 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.
Heres 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 laws negative impact on the labor force derives from three factors: (1) Obamacares employer mandate, which will discourage hiring and reduce wages offered by employers; (2) Obamacares $1 trillion in tax increases, which will discourage work and depress economic growth; and (3) the laws $2 trillion in subsidies for low-income individuals, which will discourage many from remaining in the labor force.
Lets focus on that last point, because its the one that has been the least-discussed in the media.
(Excerpt) Read more at forbes.com ...
If losing 2.5M jobs is a good thing, why did we spend $1T saving and creating jobs?
I don’t understand the WH anymore. The press bitch says that a lack of employment is true freedom?
Who in their right mind agrees with this?
I ask the moonbats lurking to please explain this to me.
Yes, let’s get rid of all jobs and business so the feds can run out of money to spend since they won’t have any to tax away.
Then all 300 million of us can just frolic in the fields like the Eloi.
What if their dream was a full time, good paying job? lol
with section 8, food stamps, ObamaCare and ObamaPhones, we are liberated from having to work
lolz
I just noticed today I’m paying $1.04/month to underwrite Obamaphones.
I thought it was much less.
#rage
Under today's rules, yes.
But don't you suppose that, over the long-term, the idea is to fold Medicare into Obamacare?
After all, it is Obamacare that has the Death Panel instruments, not Medicare. And the entire purpose of the exercise is wealth re-distribution -- to spend less money on elderly folks and more money on the "uninsured", thereby acquiring more votes.
You can't accomplish that objective without Death Panels...
Scary thought. But yes, when the single-payer plan is implemented because Obamacare is such a failure, I suppose the two systems will merge. (But the older folks should have a portion of their premium paid through their Medicare withholdings over the years too).
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