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.
#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.
#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 ||
02/05/2014 14:07 Comments ||
Top||
#13
...you mean entrepreneurs like Joe the Plumber?
#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
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
So there really is a connection ? 
