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

“CBO estimates that the ACA will reduce the total number of hours worked, on net, by about 1.5 to 2 percent during the period from 2017 to 2024, almost entirely because workers will choose to supply less labor — given the new taxes and other incentives they will face and the financial benefits some will receive,” CBO analysts wrote in their new economic outlook.

http://www.washingtontimes.com/news/2014/feb/4/cbo-obamacare-push-2m-workers-out-labor-market/#ixzz2sMpBp4ug

Amazing how this was predicted by those on the right and dismissed with hostility by the left.

The Democrats are just that gullible or blinded by ideology. How can they honestly tell us now the CBO wrong? They've been using the historical CBO predictions to justify this crap for years.

I wonder if they still predict it will generate a $1T surplus. I'm still laughing at that one...

The most frustrating part is some people actually believe Whitehouse.gov in that ACA (OBAMAcare) is working.

The report suggests that aggregate demand for labor (that is, the number of jobs) will increase, not decrease.

Read pages 117-127 of the CBO report.

Below is a section that talks about who will be effected and that it will increase the need for more full time workers.

Pages 117-118

"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 media and GOP are at it again with trying brain wash the American people by "Headline writing".

Good post, Achigan. The CBO also stated that the health insurance corridors in Obamacare will save about $8 billion.

http://www.politico.com/story/2014/02/obamacare-first-year-enrollment-numbers-103098.html

It appears that the Republicans are throwing in the towel on fighting a clean hike of the debt ceiling, and I see that as a default acknowledgement that Obamacare is here to stay!

The CBO also tells us that we'll see the lowest deficit this year since George Bush's last budget.

So let me get this straight...

Employees choosing to work less hours because working full time will lead to less government subsidies is a good thing?

2 million less full time jobs than there would be without Obamacare.

Read Page 38, heck read the whole report not just what some left wing website that gives you the spinning points.

Appendix C explains the CBO's downward revision.

Despite the title of this thread, no one is being pushed out of their job and unemployment is not going up. One large group who will be affected are those in their late 50s and early 60s who are just hanging onto their jobs for the sole purpose of keeping their health insurance until they can get on Medicare. They may now feel financially capable to retire. The CBO itself stated in the report that they are not sure of their accuracy, but Republicans look for any talking point they can find! They usually don't like what comes out of the CBO!

Obamacare is here to stay (Get over it)

"CBO estimates that the ACAwill reduce the total number of hours worked, on net, by about 1.5 percent to 2.0 percent during the period from 2017 to 2024, almost entirely because workers will choose to supply less labor—given the new taxes and other incentives they will face and the financial benefits some will receive."

They base their entire estimate on 2 to 2.5 million full time jobs will lost because people will reject higher income in exchange of subsidies.  They will retire early or move from full time to part time employment.

Now how is that in the best interest of this country?

More part time and unemployed Americans having their health care subsidized by those who work. This is not rocket science here, this equates to less tax revenue and higher liabilities.

Try to spin this:

"CBO estimates that federal debt held by the public will equal 74 percent of GDP at the end of this year and 79 percent in 2024 (the end of the current 10-year projection period). Such large and growing federal debt could have serious negative consequences, including restraining economic growth in the long term, giving policymakers less flexibility to respond to unexpected challenges, and eventually increasing the risk of a fiscal crisis (in which investors would demand high interest rates to buy the government’s debt). "

Subsidize non-productive behavior and you will get more and more non-productive behavior.

Wasn't this once a darling idea of the Conservatives?

http://thinkprogress.org/health/2014/02/04/3249671/obamacare-job-lock/

The idea that we are going broke anytime soon is preposterous. We are more than capable to handle our debt, and if the Right Side of our Congress ever grows up they'll realize that we need more revenue (taxes, there I've said it!)

This is OWNED by the Democrats my friend.

As part of the "where are the jobs" crowd you should be appalled that OBAMAcare will move people from full time to part time work. You should be beside yourself that tax revenue will drop because people will choose to work less or not at all.  But you are too focused on blaming Republicans, NOT ONE whom voted for this crap.

I heard the talking points from this administration yesterday...did you?

Heavy on the "Now folks can follow their dream, because they're working less".  The whole idea is that "someone else" will pay for these dreams.

So how does that work with the fair share argument?  Some will have to PAY more so others can do less.

Outerlimits wrote:This is OWNED by the Democrats my friend.

That's really interesting! An idea that had it's roots in the Heritage Foundation and Romneycare is now owned by the Democrats. I know this will be a talking point near election time, because the Republicans have nothing else to offer!

Obamacare is here to stay! (get over it)

The head of the nonpartisan Congressional Budget Office delivered a damning assessment TODAY of the Affordable Care Act, telling lawmakers that ObamaCare creates a "disincentive for people to work," adding fuel to Republican arguments that the law will hurt the economy.

The testimony from CBO Director Douglas Elmendorf comes after his office released a highly controversial report that detailed how millions of workers could cut back their hours or opt out of the job market entirely because of benefits under the health law.

The White House and its Democratic allies accused Republicans, and the media, of mischaracterizing the findings. But Elmendorf backed Republicans' central argument -- fewer people will work because of the law's subsidies.

"The act creates a disincentive for people to work," Elmendorf said, under questioning from House Budget Committee Chairman Paul Ryan, R-Wis.

The CBO also projects 30 million will remain uninsured by 2020.   

So why would anyone want OBAMAcare to remain the law of the land?

Paul Ryan also set the record straight on just what the CBO actually said:

http://talkingpointsmemo.com/livewire/paul-ryan-gop-job-losses

I can't imagine the uninsured numbers being all that great when half of the states are dragging their feet, but 30 million uninsured is much better than 50 million uninsured!

Obamacare is here to stay!