Obamacare will push 2 million workers out of labor market: CBO

The Congressional Budget Office has released a report that states some more alarming economic projections resulting from Obama.Care.

Things like millions of people out of the labor market and millions remaining "uninsured" along with less hours worked and an increase of part time jobs.

The White House and Democrats had some responses.

Obamacare will push the equivalent of about 2 million workers out of the labor market by 2017 as employees decide either to work fewer hours or drop out of the job market altogether, according to estimates released Tuesday by the Congressional Budget Office.

The analysis set off a furious debate in Washington. The White House argued that the reduction is positive because it means Americans will forgo jobs or extra work to stay home with their children or strike out on their own as entrepreneurs. Republicans, however, said the report amounted to an “I told you so” moment and that subtracting the equivalent of 2 million workers can’t be good for the economy.

Obamacare will push 2 million workers out of labor market: CBO


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reply to post by xuenchen


Well don't you know, the leftist media is saying "Liar, liar pants on fire, La La La.."

Nothing to see here move along.

Conservative media outlets are misstating the Congressional Budget Office’s (CBO) findings regarding the Affordable Care Act Leftist Link

What "conservative" media outlets? Aren't they all owned by the same few people?

The funny thing is, we have already seen the effects of this legislation. More people are working part-time because employers do not want to be responsible for the requirements ACA lays out.

People need to come back to reality.

The "controversy" will be here soon...


The full CBO report pdf


Page 123 (of the pdf) seems to have the actual language for *interpretation*.


[look for "Labor Market Effects of the
Affordable Care Act: Updated Estimates"
Appendix C]

I've posted this before and I'll post it again, because it's true!
They are laughing and joking and enjoying every little bit of misery we have to endure, WHY?
More people will come running to them for their daily needs, they're creating one massive Welfare Country and that has been their goal.
It's a Joke for these two:

It's true Obama does Love The POOR!

I think the estimate is too conservative. The true economic impact of Obamacare has been severely underestimated across the board. It is going to be a disaster by design.

A lot of people in the middle class are going to find themselves unable to afford coverage under the ACA mandate when fully implemented and enforced.... Some are going to take less hours on their jobs and perhaps voluntary cuts in pay to either get or keep subsidies for their healthcare plans.

There are millions being cancelled from existing plans, and many more when the employer mandates are fully implemented and enforced.

The good news is that about 4 out of 5 successful Obamacare enrollees are getting subsidies.

They just have to figure out how to make all of YOU pay more for it.

Here are two links from another similar thread that was closed......

Compare and Rebuttal.



CBO Report Blows Away GOP ACA Lies


No, the latest CBO report doesn't say Obamacare kills jobs

reply to post by guohua


They all love the poor!

In the end, the ramifications of legislation like this and the crap we also see from the Republicans, is that most people become poorer.

We concentrate on the person at the top, but we fail to realize that the rest of the people behind him want the same thing.

reply to post by xuenchen


From the CBO PDF

The decline in full- time-equivalent employment stemming from the ACA will consist of some people not being employed at all and other people working fewer hours; however, CBO has not tried to quantify those two components of the overall effect.

No doubt they haven't after seeing the meltdown that's already occurred. Sometimes it's best if the misery is left unquantified, that way the politicians responsible can pretend it doesn't exist.

reply to post by Bassago


It's kinda like trying to quantify the size of one giant collective middle finger from the hard working American people who will have to pay for all of this one way or another.

Does the actual size and scope matter as much as the overall sentiment and meaning?

sheepslayer247
The funny thing is, we have already seen the effects of this legislation. More people are working part-time because employers do not want to be responsible for the requirements ACA lays out.

People need to come back to reality.

Yep, I've seen that same thing at my "rudimentary" job.
I might be lucky, only because I've been there awhile.
Entry level workers start at 7.50 an hour.
No benefits, no vacation, nothin.
Nothin' more than 25 hours a week for them.
Give 'em 15 hours and corporate complains about payroll.

Those people that were good workers, had to find a second job.
Maybe a third job, and pay for healthcare on their own.
And they left.the.system.

Profit obviously outweighs some good decisions for the "drones"
and that makes me wonder what the motive is.

Two Words
No Bueno/

reply to post by telemetry


Im in a very nice position.....relative to the area in which I live and the industry in which I work.

Even I have lost my benefits, because the fine is much more reasonable for the company than providing insurance options.

Also, the plan I had for my two sons changed to the point of no longer being affordable. What I can afford covered very little compared to the previous plan.

reply to post by xuenchen


I find it endlessly hilarious that despite cold hard facts in front of your nose, people would rather believe a lie than read between the lines. Have you really bought into the fear mongering so much that you believe the dribble of Fox news? Funny that FOX NEWS AND IT SUBSIDIARIES ARE THE ONLY NEWS STATIONS REPORTING THIS TRASH.

Before you continue supporting ludicrous accusations you should probably actually read Appendix C of the CBO report, this small paragraph is what Fox is reporting as proof that Obamacare kills jobs. LOL, no greedy corporations will kill full time jobs!! Come on people. The companies are reducing hours down to part time to bypass giving their employees healthcare, I doubt the prezi is sitting around plotting our individual demise by reduction in our work hours... so if you work at McDonalds just wait, once legislation is passed it will be illegal to reduce work force hours to essentially break the law of the land. Meaning you cannot stop the wheels now that they are in motion, companies will initially get away with this but case law will arise and it will not last for long.

PLEASE READ APPENDIX C Pg. 117 of the CBO report below:

"The Congressional Budget Office released its Budget and Economic Outlook, and, in Appendix C, one can find an expanded discussion of the labor market effects of the Affordable Care Act.

Not surprisingly, the CBO finds that, all else equal, people are less likely to work and will work fewer hours under the ACA. They find, and I quote,

“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 business’ demand for labor” (page 117).

That's it, the evil Obamacare job killing paragraph Fox is touting as absolute proof ... that humans will freaking believe anything.


"These are purely voluntary labor supply decisions, not people being laid off from jobs they’d rather keep, or people looking for work and being unable to find it. Working-age adults can now choose, without regard to their need to secure health insurance, whether they wish to supply labor and how much labor they wish to supply to the labor market. This is unabashedly a good thing for them."

*Yawn*

www.epi.org...

More alarm bells sounding;

Effects of the Employer Penalty on Labor Supply
Under the ACA, employers with 50 or more full-timeequivalent
employees will face a penalty if they do not
offer insurance (or if the insurance they offer does
not meet certain criteria) and if at least one of their fulltime
workers receives a subsidy through an exchange.
Originally scheduled to take effect in 2014, that penalty
is now scheduled to be enforced beginning in 2015. In
CBO’s judgment, the costs of the penalty eventually will
be borne primarily by workers in the form of reductions
in wages or other compensation—just as the costs of a
payroll tax levied on employers will generally be passed
along to employees.12 Because the supply of labor is
responsive to changes in compensation, the employer
penalty will ultimately induce some workers to supply
less labor.

In the next few years, however, when wages probably will
not adjust fully, those penalties will tend to reduce the
demand for labor more than the supply. In the longer
run, some businesses also may decide to reduce their
hiring or shift their demand toward part-time hiring—
either to stay below the threshold of 50 full-timeequivalent
workers or to limit the number of full-time
workers that generate penalty payments. But such shifts
might not reduce the overall use of labor, as discussed
below.

(re: page 122 actual report)

thekaliyuga
reply to post by xuenchen

 

I find it endlessly hilarious that despite cold hard facts in front of your nose, people would rather believe a lie than read between the lines. Have you really bought into the fear mongering so much that you believe the dribble of Fox news? Funny that FOX NEWS AND IT SUBSIDIARIES ARE THE ONLY NEWS STATIONS REPORTING THIS TRASH.

Hate to bust that bubble you have so effectively inserted your head in, but I'm watching CNN, and moments ago they reported this and the coverage was accurate and brutally honest. I suppose Fox news is somehow controlling CNN now too eh?

reply to post by ausername


What is funny is that some people would actually believe that people would CHOOSE not to work when they have mouths to feed and bills to pay.

reply to post by thekaliyuga
(partial quote)

The companies are reducing hours down to part time to bypass giving their employees healthcare, I doubt the prezi is sitting around plotting our individual demise by reduction in our work hours... so if you work at McDonalds just wait,

once legislation is passed it will be illegal to reduce work force hours to essentially break the law of the land.

Interesting.

Is that in the PPACA, or is it a regulation by one of the Cabinet agencies?

Or is it an Executive Order?

whywhynot
reply to post by ausername

 

What is funny is that some people would actually believe that people would CHOOSE not to work when they have mouths to feed and bills to pay.

It's going to be a tough call for many families when they discover that the mandatory coverage they must have costs so much that they have to make really tough choices.

Somehow, I don't see that part of this tragedy as being in any way funny.

reply to post by xuenchen


Above all we will have order and compliance, the poor little dears just don't understand so we must…ummm….direct them so that they will not hurt themselves and be calm and controlled.

reply to post by ausername


Look up alt meaning of funny. Not funny ha ha rather funny weird and strange.