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Old 02-04-2014, 08:36 AM  
Cochise Cochise is offline
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CBO: Obamacare will push 2 million workers out of labor market

Obamacare will push 2 million workers out of labor market: CBO
By Stephen Dinan -The Washington Times
Tuesday, February 4, 2014

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 altogether, according to the latest estimates Tuesday from the Congressional Budget Office.

That’s a major jump in the nonpartisan budget agency’s projections and it suggests the health care law’s incentives are driving businesses and people to choose government-sponsored benefits rather than work.

“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.

The scorekeepers also said the rollout problems with the Affordable Care Act last year will mean only 6 million people sign up through the state-based exchanges, rather than the 7 million the CBO had originally projected.

But over the long run, Obamacare will eventually catch up and by 2020 only about 30 million people will be without insurance coverage — down from 45 million this year. That will mean about 92 percent of legal U.S. residents without guaranteed access to Medicare will have insurance coverage.
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Old 02-04-2014, 08:58 AM   #2
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Old 02-04-2014, 09:03 AM   #3
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Is this before or after the 400k jobs Pelosi promised as a result of the ACA being passed?
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Old 02-04-2014, 09:33 AM   #4
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But over the long run, Obamacare will eventually catch up and by 2020 only about 30 million people will be without insurance coverage — down from 45 million this year. That will mean about 92 percent of legal U.S. residents without guaranteed access to Medicare will have insurance coverage.
They call that "catching up"? After all this pain and dislocation, the net effect is a bigger deficit, a drag on the economy, and only 1/3 of the previously uninsured getting coverage? Wow.
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Old 02-04-2014, 09:39 AM   #5
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Old 02-04-2014, 11:42 AM   #6
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Old 02-04-2014, 11:59 AM   #7
Warrior5 Warrior5 is offline
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Obviously the CBO is on Ailes' payroll.
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Old 02-04-2014, 12:07 PM   #8
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But, the good news is, you can keep your doctor.
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Old 02-04-2014, 12:20 PM   #9
nstygma nstygma is offline
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Don't worry, raising the minimum wage will fix this. Higher cost of doing business always stimulates job growth.
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Old 02-04-2014, 12:34 PM   #10
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Originally Posted by Warrior5 View Post
Obviously the CBO is on Ailes' payroll.
To be fair, I think we should always beware of taking summaries of CBO studies as the final word on a subject given that they're usually responding to a request from a politician that more than likely has biases in it's assumptions.
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Old 02-04-2014, 01:59 PM   #11
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But, the good news is, you can keep your doctor.
And save $2.500 hundred on average~
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Old 02-04-2014, 02:58 PM   #12
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This thread has competition now, bitches.
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Old 02-04-2014, 04:42 PM   #13
cosmo20002 cosmo20002 is offline
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Quote:
Originally Posted by Cochise View Post
Obamacare will push 2 million workers out of labor market: CBO
By Stephen Dinan -The Washington Times
Tuesday, February 4, 2014

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 altogether, according to the latest estimates Tuesday from the Congressional Budget Office.

That’s a major jump in the nonpartisan budget agency’s projections and it suggests the health care law’s incentives are driving businesses and people to choose government-sponsored benefits rather than work.

“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.

The scorekeepers also said the rollout problems with the Affordable Care Act last year will mean only 6 million people sign up through the state-based exchanges, rather than the 7 million the CBO had originally projected.

But over the long run, Obamacare will eventually catch up and by 2020 only about 30 million people will be without insurance coverage — down from 45 million this year. That will mean about 92 percent of legal U.S. residents without guaranteed access to Medicare will have insurance coverage.
This 2 million number seems to be pulled out of thin air, or at least is simply from the writer's interpretation, not the CBO's. Demand for workers determines how many workers there are, and this blurb doesn't say why there would be less demand for workers.
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Old 02-04-2014, 09:18 PM   #14
patteeu patteeu is offline
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Originally Posted by cosmo20002 View Post
This 2 million number seems to be pulled out of thin air, or at least is simply from the writer's interpretation, not the CBO's. Demand for workers determines how many workers there are, and this blurb doesn't say why there would be less demand for workers.
Supply has an impact too. Apparently the CBO anticipates that many people who qualify for Obamacare subsidies while not working or working part time will find it undesirable to take on full time employment and the loss of those subsidies.
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Old 02-04-2014, 09:26 PM   #15
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Quote:
Originally Posted by cosmo20002 View Post
This 2 million number seems to be pulled out of thin air, or at least is simply from the writer's interpretation, not the CBO's. Demand for workers determines how many workers there are, and this blurb doesn't say why there would be less demand for workers.
Agreed, I just checked the abacus, and I can only come up with 1,992,768..

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