goemaw.com
General Discussion => The New Joe Montgomery Birther Pit => Topic started by: Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!) on February 05, 2014, 11:09:35 AM
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At least according to the hyper-partisan, right-winged Congressional Budget Office:
The new healthcare law will cost the nation the equivalent of 2.5 million workers in the next decade, the Congressional Budget Office (CBO) estimated in a report released Tuesday.
The nonpartisan agency found the reform law’s negative effects on the economy would be “substantially larger” than what it had previously anticipated.
It said the equivalent of 2.3 million workers would be lost by 2021, compared to its previous estimate of 800,000, and that 2.5 million workers would be lost by 2024. It also projected that labor force compensation would be reduced by 1 percent from 2017 to 2024 — twice its previous estimate — and that declining economic growth would add $1 trillion more to deficits.
Part of the reason will be the fact that people will either work less hours so they will be eligible for subsidies or decide to leave the workforce altogether:
“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 business’ demand for labor,” the CBO report said.
Some people will leave the workforce or reduce their hours in response to lower wages because of the healthcare law, while others will leave or reduce their hours because they have insurance coverage and do not need to work full time to keep it, the CBO said.
Great news for Dems! More poor people to feed on. "Hey, it's the fault of rich people you don't have a job, not us, we're here to help."
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The longer this goes I bet ACA gets the hatchet
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This is great news! Less people in the work force means lower unemployment numbers! :excited:
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The longer this goes I bet ACA gets the hatchet
Yeah. It's going to be around until Obama leaves office, but not long after. At the very least, it will be around, but with so many changes that it's not really the same law anymore.
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The ACA, fewer people covered by shittier insurance. Obama is such a Boss!
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More bad news for workers :cry:
The U.S. economy created a disappointing 113,000 new jobs in January, the Labor Department reported Friday.
http://my.chicagotribune.com/#story/chi-january-jobs-report-20140207/
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Man, the crap news keeps rolling in:
ll Business Association did, and the answers it got weren't pretty.
Despite promises to the contrary, health care reform isn't driving down the cost of insurance for small businesses, according to NSBA's survey of 780 small business owners conducted Nov. 20-Dec. 4. More than 90 percent reported that premiums went up for their health plans during their most recent renewal. One in four reported that premiums jumped by more than 20 percent.
Premium hikes for health insurance are nothing new for small businesses -- two-thirds experienced a 20 percent or more increase at some point during the past five years. But health care reform was supposed to offer small businesses better deals on health insurance. So far, that's not happening for most small businesses.
During their most recent renewal, small businesses paid an average of $1,121 a month per employee for individual coverage, up from $590 in 2009, the year before the ACA was enacted.
Most small businesses expect insurance to keep getting more expensive in the coming years.
This means small businesses will create fewer jobs than they would if health insurance weren't so expensive.
"These costs have real-world implications," said NSBA President Todd McCracken. "One-third of small businesses held off on hiring a new employee, and more than half say they held off on salary increases for employees."