CBO: Obamacare To Cost 2.5 Million Jobs

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But but but people who have ten kids and are on food stamps get insurance, totes worth it!
 
nope

What the CBO really found was that the numbers of hours worked would decrease under Obamacare, by roughly 1.5 percent to 2 percent between 2017 and 2024. The report then translated those lost hours into the equivalent of 2.5 million jobs. But that doesn't mean 2.5 million jobs are going to disappear from the U.S. economy.

The CBO report, in fact, specifically undermines that claim. Those lost hours will "almost entirely" be the result of people choosing to work fewer hours because of Obamacare -- not because they lost their jobs or can't find a full-time job.
The estimated reduction stems almost entirely from a net decline in the amount of labor that workers choose to supply, rather than from a net drop in businesses' demand for labor, so it will appear almost entirely as a reduction in labor force participation and in hours worked relative to what would have occurred otherwise rather than as an increase in unemployment (that is, more workers seeking but not finding jobs) or underemployment (such as part-time workers who would prefer to work more hours per week).
The report explicitly says that Obamacare isn't going to force businesses to cut jobs on any grand scale. What it is going to do is change how much Americans work.
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The CBO only was trustworthy when they scored ObamaCare under $1t for 10 years.
 
BLAZER PROPHET said:
Why is this important? Because at what point in time do people get fed up being lied to?

http://nbcpolitics.nbcnews.com/_new...h-estimates-of-job-loss?lite&ocid=msnhp&pos=1

The non-partisan Congressional Budget Office gave new fuel to the debate over the Affordable Care Act Tuesday with its estimate that the law will lead to the eventual loss of about 2.5 million full-time jobs.
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hahahaaahaaa just wait for the required enforcement on businesses, that has been put off for the mid term elections, too come home to roost. They know that will have a negative effect as well..regardless of how they want to spin it, their actions speak more clearly than their words.
 
I have to believe this legislation is going to either be radically changed or scraped.
 
BLAZER PROPHET said:
I have to believe this legislation is going to either be radically changed or scraped.
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As long as Obama is President it isn't going to be scrapped. He wants single-payer, even though his own government can't even manage a lemonade stand in Chicago during a hot spell. Of course, when that lemonade fan fails because of high heat, he'd wasn't aware of the lemonade stand.

Obama has been changing the ObamaCare law by moving deadlines and granting waivers over the last 3 years. He wouldn't be doing this if he actually thought this plan would work. He's doing so hoping that private insurers fail, and that the only option left is a complete government takeover of the healthcare system. Hello...
 
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ponderguy said:
nope
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You are right, but the CBO is not counting the 2.5M jobs' worth of hours as a good thing.

The talking points don't make much sense. CBO says the deficit will be only $514B. Democrats claim thanks to good policies by Obama. Democrats also claim republicans obstructed his agenda. So the truth seems to be blocking his agenda has led to lower deficits.
 
Many people who now pay for health insurance, or for health emergencies, will pay less with Obamacare. This will let them work 2% fewer hours, which is 2.5 million full-time-equivalent jobs. Those hours will be grabbed by the current unemployed and underemployed.

This great news has been twisted around by Republican ideologues. According to Huffington Post, Politico refuses to report this side of the story.
 
Blazer Prophet, I'm curious. Did you read the report? Or are you just quoting what you say/heard? Because the report says a lot of things, but not that. I don't like this health care law. But I have a fondness for facts and it seems mention the ACA or anything remotely related to Obama and "some" people enter The Fact Free Zone.
 
From the article in the OP:

CBO director Douglas Elmendorf told reporters that the analysis done by his agency’s experts “led us to conclude that the effect of the Affordable Care Act on labor supply would be a good deal larger than we had thought originally.” In 2011, the CBO estimated the loss of full-time equivalent jobs due to the law would be about 800,000.

Elmendorf also told reporters that the employer mandate – the requirement that firms offer health insurance to workers– “will reduce the demand for labor in the short term because employers face this extra cost. It is analogous in some ways to raising the minimum wage.”

The CBO report said that “workers will choose to supply less labor—given the new taxes and other incentives they will face and the financial benefits some will receive.”
 
Also from the article, and which jlprk's "fact" checking article said is true:

Both sides of the Obamacare debate used the new findings to buttress their arguments, with House Speaker John Boehner saying that Republicans had argued for years that “the president's health care law creates uncertainty for small businesses, hurts take-home pay, and makes it harder to invest in new workers. The middle class is getting squeezed in this economy, and this CBO report confirms that Obamacare is making it worse.”
 
There are two rules in economics upon which all economists agree: 1) there's no such thing as a free lunch, and 2) incentives matter. This development in Obamacare hits them both.

People are being incentivized to work less. That means lower output, which means less wealth. Less wealth means fewer tax dollars to fund this program and less money in the economy in general.

Second, those that claim health care will be "cheaper" really mean to say, "someone else will pick up the tab". Those people who pick up the tab will have less to invest--meaning fewer jobs and less innovation--and less to spend, which means less consumer demand.

This program is a wealth transfer and a disincentive to work. It puts yet another layer of bureaucracy between doctor and patient, which raises costs and limits choice. And the proof in the pudding for how much this law sucks? The people who wrote it and supported it most vociferously have exempted themselves from and/or have been given loopholes to not be held to it.

At this point, those who still support this law deserve what they get.
 
My work just got the notice we have to go on new plans. Fuckers. I know boss is going to go to something stupid now. I liked my plan, i wanted to keep it. They'll use it as an excuse to reduce coverage and increase my out of pocket now
 
EL PRESIDENTE said:
My work just got the notice we have to go on new plans. Fuckers. I know boss is going to go to something stupid now. I liked my plan, i wanted to keep it. They'll use it as an excuse to reduce coverage and increase my out of pocket now
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A lot of people are going to be hurt over the next few years as politics is put before health. I hope you stay healthy, EP, because your new policy won't be as good as your old one.
 
maxiep said:
A lot of people are going to be hurt over the next few years as politics is put before health. I hope you stay healthy, EP, because your new policy won't be as good as your old one.
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Like I said they already tried putting me on an HSA account but I fought that, now I pretty much know they are going to fuck me over as a direct result of obamacare
 
You will accept govt. health care, dammit. And you'll love it. They have the NSA spying on you to assure you're only saying happy things, and the IRS to hound you into submission.
 
Here's the money quote:

OP article said:
In its annual budget and economic forecast the agency also said that the ACA or Obamacare will reduce the total number of hours worked by about 1.5 percent to 2 percent from 2017 to 2024.

Even though total employment will increase over the coming decade, the CBO said, “that increase will be smaller than it would have been in the absence of the ACA.”
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If everyone working less is a good thing, then 2% of 2080 hours (52 weeks x 40 hours/week) comes to a shade over 40, or a week's vacation. Unfortunately, I don't know how anyone can expect that it actually would work like that. Some people will get 0% of their time cut and others 100%, and a range of people in between those extremes. People who are nearer to the 100% cut (or even 25%) are not going to be very happy.

Another point to take from the CBO report is:

CBO director Douglas Elmendorf told reporters that the analysis done by his agency’s experts “led us to conclude that the effect of the Affordable Care Act on labor supply would be a good deal larger than we had thought originally.” In 2011, the CBO estimated the loss of full-time equivalent jobs due to the law would be about 800,000.

Elmendorf also told reporters that the employer mandate – the requirement that firms offer health insurance to workers– “will reduce the demand for labor in the short term because employers face this extra cost. It is analogous in some ways to raising the minimum wage.”
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Spin away.
 
Losing your job gives you an opportunity to get a better job, and more time with the family.
 
EL PRESIDENTE said:
My work just got the notice we have to go on new plans. Fuckers. I know boss is going to go to something stupid now. I liked my plan, i wanted to keep it. They'll use it as an excuse to reduce coverage and increase my out of pocket now
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I think you have broken the code EP.
 
This is spin gone all wrong. Ever heard of "job lock"? Its when people stay in dead end jobs just for the insurance because they had no options, or pre-existing conditions, etc. With Obamacare, people can actually leave, start businesses, etc. Hence fewer "jobs". But more small businesses.
 
Stevenson said:
This is spin gone all wrong. Ever heard of "job lock"? Its when people stay in dead end jobs just for the insurance because they had no options, or pre-existing conditions, etc. With Obamacare, people can actually leave, start businesses, etc. Hence fewer "jobs". But more small businesses.
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They always could leave and start a business.
 
Stevenson said:
This is spin gone all wrong. Ever heard of "job lock"? Its when people stay in dead end jobs just for the insurance because they had no options, or pre-existing conditions, etc. With Obamacare, people can actually leave, start businesses, etc. Hence fewer "jobs". But more small businesses.
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Huh? That option has always existed. LOL
 
Denny Crane said:
They always could leave and start a business.
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No, actually many could not, because they could not get insurance before.

BusinessDictionary.com: "Job Lock: The inability of an employee to voluntarily terminate employment with a particular company because he or she would lose current health care benefits. This becomes an issue for individuals that have pre-existing health conditions that may not be covered under the new employer's health care coverage. This situation is possible because most insurance companies have a pre-existing health care clause that prevents them from being liable for any condition that the employee had before requesting coverage.

Read more: http://www.businessdictionary.com/definition/job-lock.html#ixzz2sc9XQk8m"
 
Stevenson said:
No, actually many could not, because they could not get insurance before.

BusinessDictionary.com: "Job Lock: The inability of an employee to voluntarily terminate employment with a particular company because he or she would lose current health care benefits. This becomes an issue for individuals that have pre-existing health conditions that may not be covered under the new employer's health care coverage. This situation is possible because most insurance companies have a pre-existing health care clause that prevents them from being liable for any condition that the employee had before requesting coverage.

Read more: http://www.businessdictionary.com/definition/job-lock.html#ixzz2sc9XQk8m"
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And we need to remake the entire healthcare systems for this tiny sliver of people who have a harder time following their dreams?
 
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