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| Economy |
| CBO: O-Care slowing growth, contributing to job losses |
| 2014-02-05 |
| The new healthcare law will slow economic growth over the next decade, costing the nation about 2.5 million jobs and contributing to a $1 trillion increase in projected deficits, the Congressional Budget Office said in a report released Tuesday. The non-partisan agency's report found that the healthcare law's negative effects on the economy will be "substantially larger" than what it had previously anticipated. The CBO is now estimating that the law will reduce labor force compensation by 1 percent from 2017 to 2024, twice the reduction it previously had projected. This will decrease the number of full-time equivalent jobs in 2021 by 2.3 million, CBO said. It had previously estimated the decrease would be 800,000. The budget scorekeeper said this decrease would be caused partly by people leaving the workforce in response to lower wages offered by employers, and increased insurance coverage through the healthcare law. The agency also said employer penalties in the law will decrease wages, and that part-year workers will be slower to return to the work force because they will seek to retain ObamaCare insurance subsidies. |
| Posted by:Beavis |
| #15 “Any man who thinks he can be happy and prosperous by letting the government take care of him had better take a closer look at the American Indian.” ~ Henry Ford |
| Posted by: Uncle Phester 2014-02-05 19:56 |
| #14 Small Island found where Obamacare is a success. |
| Posted by: Besoeker 2014-02-05 17:23 |
| #13 ...you mean entrepreneurs like Joe the Plumber? |
| Posted by: Procopius2k 2014-02-05 14:14 |
| #12 According to the Administration, this is a good thing as people are opting out of the workforce, rather than being "forced" to stay in to keep earning benefits. Because, you see, it's so much more likely that those electing welfare over wrok will to become entreprenuers. Brace yourself for the economic whirlwind... |
| Posted by: regular joe 2014-02-05 14:07 |
| #11 Now apply the same analysis to income taxes. Income based taxes are the cause of malemployment and unemployment. |
| Posted by: Bright Pebbles 2014-02-05 12:58 |
| #10 It may come as a shock to those who voted without paying attention. |
| Posted by: Bobby 2014-02-05 12:02 |
| #9 And this is a surprise to anyone that has been paying attention? |
| Posted by: DarthVader 2014-02-05 11:55 |
| #8 The non-partisan agency's report found that the healthcare law's negative effects on the economy will be "substantially larger" than what it had previously anticipated. Whoopsie. |
| Posted by: Pappy 2014-02-05 10:59 |
| #7 What's the difference between Bruno and Obama? Bruno has some talent. |
| Posted by: JohnQC 2014-02-05 10:56 |
#6  |
| Posted by: Beavis 2014-02-05 10:07 |
#5  So there really is a connection ? |
| Posted by: Besoeker 2014-02-05 10:03 |
| #4 To borrow from successfully parody by the Johnson campaign of Barry Goldwater's 1964 campaign slogan. "In your guts, you know O-care is nuts" |
| Posted by: Mad Eye Brown4699 2014-02-05 09:46 |
| #3 A new GIVERnment Ponzi scheme is needed to help the middle class and part time workers. |
| Posted by: Airandee 2014-02-05 06:50 |
| #2 So O's plan is really working well. The economy and the middle class are in steady decline. |
| Posted by: Alaska Paul 2014-02-05 02:44 |
| #1 Now, who could have predicted this outcome? Surely none of us here! |
| Posted by: Raj 2014-02-05 02:09 |