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CBO Report: Obamacare will shrink workforce 2.3 million


Date posted - February 5, 2014


The Affordable Care Act, a k a Obamacare, became law almost four years ago. It became operational last Oct. 1. Yesterday, Feb. 4, 2014, the ACA may well have been dealt its death blow.

 

The Congressional Budget Office released a major study of the government’s budget and its effect on the overall economy over the next 10 years. In dull bureaucratic language, it delivers a devastating analysis of the inefficiencies, ineffectualities and problematic social costs of ObamaCare.

 

The one-two punch: Virtually as many Americans will lack health coverage in 10 years as before the law was passed — but 2 million fewer will be working than if the law hadn’t passed. One killer detail comes on Page 111, where the report projects: “As a result of the ACA, between 6 million and 7 million fewer people will have employment-based insurance coverage each year from 2016 through 2024 than would be the case in the absence of the ACA.”

 

http://nypost.com/2014/02/05/congressional-budget-office-sends-death-blow-to-obamacare/

 

So hows all the “Hope and Change” working out?

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44 Responses to “CBO Report: Obamacare will shrink workforce 2.3 million”

  1. Lee Ann says:

    You must be reading the Fox News version. Because what the CBO said was that up to 2 million people will voluntarily leave their job to pursue opening a business, retiring early, etc. Not that there will be fewer jobs, there will be the same number of jobs, but there will be more people that can quit their job, due to the fact that they don’t have to keep their job to have health insurance. Even Paul Ryan was talking about “Job block” a few years ago, saying that people have to work at jobs, even tho they would far rather retire or pursue a business, instead of that 9-5 job. You need to get your facts straight before posting.

    • Bob says:

      Thank you, Lee Ann, for not being a lazy consumer of the news. Most of the lazy reporting and the knee-jerk reaction to this report were negative (clearly) and blown out of proportion (undoubtedly) without fully knowing what is actually, projected to happen.

    • Tim says:

      Lee Ann…Look at the source. It was from the NYP. I don’t understand how some people ALWAYS will say either it is a Fox biased reporting or, yes, someone on here will say it was Bush’s fault. (NEVER does Obama take credit for failure!! And neither do his supporters, they seem to think he is some kind of god) Every report on this subject I looked into, gives obamacare longterm ‘headaches’. However, those that ALWAYS want to say it is such a great program, seem to have their heads buried in the sand again. So, my point, don’t always blame Fox news for EVERYTHING that does not support Obama. It gets really old. Face the facts!!

      • Bob says:

        Tim – “Face the facts.”

        http://www.factcheck.org/2014/02/the-aca-losing-job-vs-choosing-not-to-work/

        In essence, this report is all about projections, anyway, which are widely based on conjecture. Unless you have more information than the rest of us and need to share…?

      • Jon says:

        Yes, the New York Post…owned by News Corp…and part of Rupert Murdoch’s media empire, which of course, includes Fox News. Under Murdoch’s leadership the New York Post has continued its conservative editorial view, and many accuse the Post of editorializing in its reporting of news stories and not limiting it to its proper place within the newspaper. A Pace University survey in 2004, the Post was rated the least-credible major news outlet in New York City, and the only news out let to get receive more responses calling it “not credible” than “credible.” But, you’re right, it wasn’t from Fox news.

    • Rae says:

      You’re right, Lee Ann, but the incentive to leaving their jobs voluntarily to open a business or retiring early is also fueled by the desire to keep their income low enough to qualify for government subsidies or Medicaid, thus more individuals would choose not to work…and as the welfare state expands, the incentive to work declines,,,,meaning you grow the government and thus shrink the economy. Fewer people will work because of the law’s subsidies. The Affordable Care Act would definitely make lower income people “better off” or should I say another “redistribution of wealth”!

      • Lee Ann says:

        If someone goes on medicaid, their income is so low that they are uncomfortable and struggling all the time. People do like to work. I’ve never heard of anyone turning down a raise, so they can pay less in health insurance. I am on SSD and they said I qualified for medicaid , because medicare hasn’t started yet. Iowa said I could not qualify for medicaid because I had too much money in the bank, even tho my “income” is low enough. So anyone that is willing to drop their income enough to save two or three hundred dollars a month in health insurance is sure taking a drop in quality of living. Who would do that? I can see people leaving a job to start a business, and thankful they have health insurance that can go with them. That is a hopeful way to live. But I sure cannot imagine someone taking a $2000 cut in monthly living to save a bit on the subsidy for the ACA.

        • Rae says:

          Columnist Charles Kruthammer’s take on the recently released CBO report:

          “He says opportunity. This is what he’s heralding in this achievement, that the government is giving opportunity for people to decide if they want to work. This is the liberals’ ideal of the opportunity society,” Krauthammer said. “Of course, in a free society, you can decide if you want to work, but what Obamacare does, and so the essence of liberalism, is you can choose not to work, and the people who do work end up subsidizing you.”

          In other words, he explained, the people who work “have to send their money to the government” so they can redistribute it to the people who choose, “in this ideal new opportunity society,” not to work.
          Krauthammer also echoed the words of CBO director Douglas Elmendorf, who admitted Obamacare creates a disincentive for people to work.

          “Now, you can argue it’s an inevitable side effect kind of benefit of this sort, but that’s not the argument the administration is making,” he added. “This is a benefit, a wonderful thing that we’re giving people the opportunity not to work and to live off the sweat and the work of other people. Is that the American way? That sounds odd to me.”

    • Free Man says:

      The bulk of the job losses will come from employers cutting hours to avoid the Obamacare mandate, and the rest from those on the cusp of losing the subsidy that will scale back their work hours. LeeAnn is right in this aspect, since those near the subsidy cut off will voluntarily work less, but it is due to losing the subsidy and not to start a business. It is also very likely that a lot of well off will consider retiring early as they can enroll in Obamacare and get full subsidies since they can show a lower income.

      It is a fact that not 2.2 million jobs will be lost, but it is the equivalent hours of 2.2 million jobs that will be lost. This will hit those on the lower end of the income scale the hardest, since they are more likely to have their hours scaled back, or have their jobs automated to avoid the Obamacare mandate and resulting fines. (or taxes as Chief Justice Roberts called them)

      This spin about being able to quit your job and start your own business is just whistling past the graveyard by the left. Saying that the only way you can start a business is if your health insurance is subsidized by the goverment is pure hyperbole.

      • Lee Ann says:

        And unemployment numbers will go down. Because if 2 million people voluntarily leave their employment, because they now have the health insurance that they need and want, then that 2 million jobs will go to the unemployed that are desperate to have a job. the key here is voluntary.

  2. Doug says:

    The original poster cites the NY Post as the source LeAnn, so it’s kinda hard to blame “Fox News” for Obama’s catastrophe, but carry on if you must.

    After all, he tried to do the same thing during his Superbowl interview. It’s the new political correctness ettique, blame the messenger, not the liar.

    Here is the text verbatim from the document “CBO and JCT project that, as a result of the ACA, between 6 million and 7 million fewer people will have employment-based insurance coverage each year from 2016 through 2024 than would be the case in the absence of the ACA.”

    Page 111 as stated above under Other Effects on Revenues and Outlays: http://www.cbo.gov/sites/default/files/cbofiles/attachments/45010-Outlook2014.pdf

    Maybe it reads different through leftie glasses. Just keep polishing that turd. MythBusters proved it can be done.

    • Lee Ann says:

      The clue in the CBO report is “voluntary”. Nobody will be forced to leave a job to start a new business. I’ll just sit back and wait until you eat those words.

      • Doug says:

        Where did I say anybody will be forced to leave a job to start a new business?

        If you aren’t already, get used to sitting back. I’m not eating anything.

      • Don says:

        I also suspect you are voluntarily on SSD. I am highly suspicious that the system is being used when someone consistently attacks it.

        • Lee Ann says:

          If you’ve read the .02 columns for awhile, you will know that I have never made a secret out of the fact that I worked until I could no longer work, and got social security disability , since I have been paying into this for over 45 years. Ask anybody in here how many have known about my being on disability. Its nothing to hide.

          My views have not changed just because I am now on disability.

        • Lee Ann says:

          And why would I be so defensive about the ACA, since I will be on medicare which is totally different than the ACA? I am FOR the ACA because the people in this country need and deserve to have adequate health care.

  3. LazloTu says:

    As Lee Ann suggested, you ARE taking your position from Fox ‘News’. The below link takes readers to a summary and conclusion of your flawed claim. It would be healthy if you and other like-minded Obama-haters would at least make an effort to utilize one of the fact-check organizations before posting anything from your go-to source as “fact”.

    http://www.politifact.com/punditfact/statements/2014/feb/05/gretchen-carlson/carlson-cbo-says-obamcare-will-cut-full-time-jobs-/

    • Free Man says:

      Some good stuff in that link;

      For economist Jeffrey Clemens at the University of California – San Diego, this result is no surprise. The law gives most of its assistance to people making less money.

      “Subsidizing insurance for low-income households, and providing Medicaid to the poor, involves reducing the returns to work. As earned income rises, the benefits phase out,” Clemens said.

      The CBO report tracks with that, noting that the voluntary decisions to leave the workforce would be concentrated among lower-paid jobs.

      As the economy returns to full employment, Burtless expects that there would be a shortage of low-wage workers.

      “The remaining taxpayers will have to pay slightly higher taxes to finance public health insurance subsidies than they would otherwise have to pay if the work hours of low-wage workers remained unchanged,” Burtless said.

      Ultimately, it boils down to a tradeoff, said Tara Sinclair, a George Washington University economist.

      “Admittedly there are some touchy issues with the government potentially paying or subsidizing the health care costs for people who could work but choose not to,” Sinclair said. “But overall I think separating health care from employment, at least making it like any other service where employment may provide the money to pay for it but where we work doesn’t determine our choices, is a good thing.”

  4. Peter says:

    When did fox News purchase the New York Post ?

    • Quick Googler says:

      The parent company of Fox Entertainment and New York Post is News Corp. News Corp purchased the New York Post in 1993.

  5. Biker says:

    Lee Ann…seriously. Facts straight. Cnbc, fox, CNN are all reporting this tonight. When you read the report, kinda hard not to believe the written report. This president is the dooms day to our country. But oh, the president also said about the IRS scandals that there was no Smigon of evidence when the investigation is on going….go figure but that is probably he said she said huh lee Ann?

    • Lee Ann says:

      If you remember what happened when the Supreme Court ruled on the ACA? Some of the Fox announcers and a few Conservative pundits were all so happy and pleased that the SCOTUS had ruled against the ACA. Until they read the ruling and found out that they were incorrect, and the SCOTUS had ruled FOR the ACA. Some people do not wait until they get it right before they start announcing.

  6. sassy says:

    The ACA was never about providing quality healthcare as much as it was about power, control, and another way to expand government. Of getting more and more people reliant on government so they will vote for your party, your candidate. I believe the personal information required to sign up on the healthcare.gov website is extremely vulnerable to identity thieves and it’s not if but when will the website be hacked. Think carefully before you hit ENTER after putting your personal information on this government website.
    _________

    Please, please, consider this: Reading to Educate Yourself. We The People must take personal responsibility for being asleep on our watch for decades now. As I have said before, We The People are the “fourth” branch of government as Overseer of the people and things in our local, state, and national governments. To educate ourselves, we need to READ the books Jefferson, Franklin, Jay, and Hamilton, among MANY others, wrote, (and also the books they read), so we can do our due diligence to fight for the freedom slipping away from us at a very fast rate! The classic books can be used to “mentor” each of us and teach us how to THINK for ourselves.

    A quote from Atwood H. Townsend says, “No matter how busy you may think you are, you must find time for reading, or surrender yourself to self-chosen ignorance.”

    Another quote from Mark Twain, says, “A person who won’t read has no advantage over one who can’t read.”

    These quotes are from a new book called “Turn the Page: How to read like a top leader” by Chris Brady – it is fascinating and an easy read! The book teaches a new way of reading.

    Chris says, “… reading is one of the foundational cornerstones to living a successful life. Throughout history, seemingly everyone who accomplished anything knew this intrinsically. But somehow, today, we’ve drifted away from this truth. This is strange when we consider that we now live in the “Information Age,” in what some have dubbed the “Knowledge Economy.” But yet, at the same time, the art of reading–and reading well–seems to be slipping from our culture.

    “Reading is the shortcut to knowledge and wisdom, a path to excellence, an exciting journey of learning, and it provides access to the greatest minds of human existence.”

    • LazloTu says:

      OK; it’s clear that the radical righties, here and elsewhere, will grasp any distortions available. It’s a bit like the readers of the National Enquirer. The New York Post is another radical-conservative go-to-source.

      http://www.politifact.com/personalities/gretchen-carlson/

      Read the story by Gretchen Carlson from the above link, along with other lies. Problem is the rabid-right folks here would rather remain ignorant, even when sources are provided to fact-check the lies.

      More Lipton, anyone??

      • Free Man says:

        Squawk Squawk, Fox News, George Bush Righties, Tea Party Skuawk Squawk.

        Leftie want a cracker?

      • Doug says:

        Yes left, completely ignore the report, and focus on how it was delivered by the news organizations. Typical left hand tactics: Deny Problem, Blame the Tea Party, Redirect Attention, Lie.

        Do everything necessary to protect the freebies to the core voting base. Why not just send them cash?

        More Kool-Aid anyone?

  7. Free Man says:

    Duke University: 44% of U.S. firms consider cutting health care to current workers.

    Adding to a devastating CBO report of how Obamacare could damage the economy, a Duke University survey of top companies found that 44 percent are considering reducing health benefits to current employees due to Obamacare, confirming the fears of millions of American workers.

    In its December survey of chief financial officers around the country, Duke also found that nearly half are “reluctant to hire full-time employers because of the Affordable Care Act.”

    And 40 percent are considering shifting to part-time workers and others will hire fewer workers of fire some to avoid the costs of the program.

    http://washingtonexaminer.com/duke-university-44-of-u.s.-firms-consider-cutting-health-care-to-current-workers/article/2543506

    And I expect the left to attack the messenger, as it is their only defense.

    • TM says:

      When was the survey done. Firms have been cutting heath care for years now. Anything to save a $(witch I think is great). Companies are here to make $ goverment is here for the people. The ACA tries to pick up the slack that many Firms have stoped offering heath care years ago. There is no good reson all people should not have heath care. This talk about how bad this is so funny to watch. The right talk about not paying someone else share and the left talk about ??? I real cant tell what they talk about it changes all the time. Can’t we all agree that the idea behind the ACA is a noble one. It is far from perfect but its better than what we had. Lets work together and make it better.

      • Doug says:

        I thought all men were created equal. Where does it say you are entitled to health insurance? You are free to seek employment that provides health insurance to the worker. You are not free, to seek a portion of my labor, and my income, to provide where you fall short.

        If I choose to help you should be my choice, not the government’s. That is not the intended purpose of government.

        Companies that refuse to compete for market share, or a quality workforce, will be replaced.

        When will your benefits be enough? The government provides for food, shelter, education, and now health care. Who gets to decide when enough is enough? You? The government? Ask not what your country can do for you. Remember that?

        • TM says:

          All men are created =. That is what this bill is intended to do. Treat all people =. Give them all heath care. Your taxes support alot more then welfair. Look at the break down of were your tax dollor gose. You might be suprised to find out. If its about your tax $ helpinig someone then we should treat all people =. Let the banks and auto makers fail let farmers compet for our $ on a fair and free market. Stop all pay to goverment officals. The list gose on and on, do you see where I’m going with this at some point you have to think about what you do and say you can’t fave what you think is right and not give other what they think is right. You have to give something up if you want true equality.

          • Free Man says:

            From each according to his ability, To each according to his need.

            It is not being equal to take from a high acheiving individual who strives to better himself and is always looking for a way to succeed, and give it to the poor shlub who sits in front of the TV with a beer in one hand and the remote in the other.

            All men are created equal, but not all strive to reach their full potential. Now it is being touted by the left that working part time is a great thing because they will heavily subsidize your health care by taking from those who work to be successful, leaving you to lounge around and spend more time with your brood. The only cost for this plan is that you remember come election time who picked the pockets of your fellow citizens and put it in your account.

          • Doug says:

            Wrong. If people want equality, they can go out and earn it every like I do. It doesn’t take anything special; just work for it. You don’t need a college education to earn a good wage with good benefits. Been doing it every day for many years. Stop complaining about how hard it is and stealing from me.

          • TM says:

            All you right wingers are missing the hole point. Why do you get to decide were ALL of our tax $ get to go. For years you have had your way tax cuts, tax breaks for big corp, military spending the list gose on. And now that the left have finaly did something they want it my tax $ is be ing give to drunk lazy slobs. Really is that what you think. If it is I pray that the good Lord will take pitty on your soul. Your view of your fellow man must be hidius. If this is they way you feel elect people who will cut all goverment spending. Hint you wount find a singel one. They all want there own cut of the goverment pie. Stop acting like the thinks you want are more importent than the things I want. You remind me of my kids when they lose a game of monoply they throw the board on the floor and cry. You have thrown the board on the grond(shut down the govenment) and now you have stated to cry(my $ is going to lazy people). The govement has been doing this for years they are going to keep going. If you dont like it vote, move, even better run for office. It easer to be a monday quarterback then in the game,

          • Doug says:

            Can you really hide with a new moniker and all the faked typos? Change your mask, but you are still the same.

            Natural selection has been weeding out the weak forever, and you will go too. As with all endeavors, when this country was settled, the weak perished. Those that depended on others to do all of their work did not survive.

            Keep following the flock, they will take you to dinner.

      • smitty says:

        The ACA is a noble thing? Im sorry but regardless of how may people are better off with or without it this is America and last I checked America was supposed to be a free country…. and in a free country you have a choice and the ACA has taken the choice away. It is my choice if i want to purchase health insurance and mine alone… Bottom line the ADA was a power grab, one of many that has gone unnoticed by the American Sheeple… Have fun in your fema death camps sheeple I’ll leave you with two words Molon Labe

        • TM says:

          no you are not Free we have laws agree with them or not you have to follow them. I don’t agree with many laws but I have to follow them that is the cost of living in a cival socity. What would you do if I would sit here and list all the laws I don’t like. You would be the Constitution this Bill of Rights that, God gave me, I worked that. Can you see pass the brown stuff on the end of your nose and relize this is a step in the right dirction(not a good step I will be the first to say that) but its something. Why are you all so againts helping out your fellow man. If charitys could do this I’m sure they would, or at least hope so. Yes the ACA is a power grab. But so was the Civil Rights act, ADA, Freeing All Slaves, Homested Act, Indian Land Act, and so many more why is this one act the sorce of so much anger. If someone could answer that in 1000 words or less that would be great. And I mean answer it don’t just give 1/2 answer. Yes the ACA is not great what do you sugest. Go back to what didn’t work for a large # of Americans. Ya thats sounds great. How far back do we go 1990, 1950, 1920, how about 1775 and do everything the way you want so then at least the right wing will be happy and stop bringing up the same old thing.

  8. Harold says:

    The Bible says, “to render unto Caeser…. ” , and begining tomorrow at 8:45 am, (Post Office opens) my name is Caeser. Stop arguing about whoms money is greener, just send it to me, and I’ll distribute it.

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