Glorious #Obamacare Victory: lost hours and decreased wages!

"But at least we won the election! Obama!!"

“But at least we won the election! Obama!!”

Heckuva job, Democrats:

A historically high number of people will be locked out of the workforce by 2021, according to a report by the Congressional Budget Office released Tuesday.

President Barack Obama’s signature health-care law will contribute to this phenomenon, the CBO said, citing new estimates that the Affordable Care Act will cause a larger-than-expected reduction in working hours—eliminating the equivalent of about 2.3 million workers in 2021.
In 2011, the CBO estimated the law would cause a reduction of about 800,000 full-time equivalent workers.

“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,” said the report.

As Bryan Preston points out, this is the equivalent of losing almost the entire workforce of Nevada.

But, hey, it’s worth it if it brings wonderful new benefits to people, such as creating jobs… Oops!, I mean saving people money, right??

Well, about that promise

A new study finds that Obamacare’s redistribution will be stunningly lopsided. Scholars at the liberal Brookings Institution have discovered that Obamacare will increase the income of Americans in the lowest 20 percent of the income scale, and especially in the lowest ten percent. But all other income groups — even people who make very modest incomes in the $25,000 to $30,000 range, as well as all income brackets above that — will experience a decline in income because of Obamacare.

In other words, Obamacare is going to cost some of the very people it was designed to help.

So, not only will Obamacare inflict people with higher premiums, bigger co-pays, and smaller provider networks, but it will on top of all that reduce most people’s income.

Genius. I hope the voters remember to reward the Democrats in November for all their hard work.

(Crossposted at Sister Toldjah)

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3 Responses to Glorious #Obamacare Victory: lost hours and decreased wages!

  1. Jon Keekaw says:

    You’re an idiot.. people will drop out of the workforce because the will no longer have “job-lock” where they simply have a job for insurance reasons. They would gladly leave their jobs if they had insurance..

    “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….”

    Did you read the report or are you just a retard?

    • “Do you accept that number, 2.3 million workers, fewer workers than would have been the case by 2021 because of the Affordable Care Act? That’s in the report,” Blitzer pressed, waving a copy of the document.

      “I don’t accept that portrayal. Because that’s implying this is costing jobs, as opposed to just giving more Americans the option,” Sperling replied.

      I haven’t seen spin like that since I last rode the Teacup ride at Disneyland.

      • Jon Keekaw says:

        That’s correct, the law isn’t eliminating jobs, it’s eliminating labor you moron. Read it carefully neanderthal:

        From the CBO report:
        “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….”

        It is workforce opting out of work not a reduction in the labor needed.

        It eliminates job-lock.. meaning a 63 yo can retire early instead of just keeping a job so that they have insurance.

        Fuck you’re stupid.

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