The Congressional Budget Office has released a report on the subject of Obama-Fuhrer-Care and the economy. The news is not good and lefties everywhere are trying to put a brave face on a sinking Titanic.
The report suggests that over the next ten years the effects of Obama-Fuhrer-Care will result in 2.5 million fewer full-time jobs than would have been the case if the law had never been passed. The previous estimate was only a third as much. This number is the direct result of the disincentives that are built into the law.
CBO estimates that the ACA will 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
The reduction in CBO’s projections of hours worked represents a decline in the number of full-time-equivalent workers of about 2.0 million in 2017, rising to about 2.5 million in 2024. Although CBO projects that total employment (and compensation) will increase over the coming decade, that increase will be smaller than it would have been absent the ACA.
Over the most recent months the predictions of the critics of this law have indeed been coming true. The roll out of Obama-Fuhrer-Care has been such a monumental disaster that it is hard to exaggerate it. The web site is an expensive joke; people are losing the health plans, hospitals and doctors they liked; people are losing their jobs or having their hours reduced because of it; the insurance companies are discovering to their horror that the plan will put them out of business; at the same time the public is against any insurance company bailouts; the list goes on and on. Could it be any worse? It is hard to imagine how that might be so.
Meanwhile we have a tone-deaf administration that refuses to admit failure and goes on pushing the lie that this law is good for the economy and the country despite the overwhelming evidence to the contrary. The ACA is destroying the medical sector of the economy and the insurance industry while wiping out millions of jobs and crushing the economy more every day.
And if you want proof that the left is seriously deranged, you can take a look at this New York Times editorial in which the authors argue that if you lose your job due to Obama-Fuhrer-Care, why that’s a good thing. You now have more free time. You can do your own thing. You are no longer tied to a job due to your need for health insurance.
So I guess that the fat, Doritos munching video gamer living in his parent’s basement is now the vanguard of the Democrat vision of the perfect society, right?
