CBO Director: 800,000 People Will Lose Their Jobs Because of ObamaCare…
Worst. Bill. Ever.
(Weekly Standard) — Testifying today before the House Budget Committee, Congressional Budget Office (CBO) Director Doug Elmendorf confirmed that Obamacare is expected to reduce the number of jobs in the labor market by an estimated 800,000. Here are excerpts from the exchange:
Chairman [Paul] Ryan: “[I]t’s been argued . . . that the new health care law will create jobs and increase labor force participation. But if I recall from your analysis, it was quite the opposite. Is that not the case?”
Director [Douglas] Elmendorf : “Yes.”…
[…]
Rep. [John] Campbell: Thank you, Mr. Chairman, we’ll — and Dr. Elmendorf — and we’ll continue this conversation right now. First on health care, before I get to — before I get to broader issues, you just mentioned that you believe — or that in your estimate, that the health care law would reduce the labor used in the economy by about 1/2 of 1 percent, given that, I believe you say, there’s 160 million full-time people working in ’20-’21. That means that, in your estimation, the health care law would reduce employment by 800,000 in ’20-’21. Is that correct?
Director Elmendorf: Yes. The way I would put it is that we do estimate, as you said, that . . . employment will be about 160 million by the end of the decade. Half a percent of that is 800,000.
Posted by ZIP on Thursday, February 10, 2011, at 4:28 pm | 
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Well, they may be unemployed but at least they’ll have health care.
So how are we going to pay for it if people are out of work?
Every Bill Obama signs into law is meant to destroy America.
If more then half the population has to rely on the Government to live then the Government will be able to do anything they want.
This is obamas goal… I really hate this fucktard.
We have 2 full time doctors in our town one is a drunk and a coke addict they other is so busy his head spins.
Both will close shop once Obama care kicks in. leaving 2000 people without a doctor for 100 miles in any direction.
Most of the 2000 are older and can barley make it into town. How will they make it 100 miles one way?
This is another reason for Obama care. To kill off those who really could use good medical insurance and leave only the relatively young and healthy to work and pay for the 3rd worlder’s coming over for their free shit.
When these people get here they will take care of the rest of the American working force and America will officially be a 3rd world shithole
And that’s just with Obama care.
Just think about cap and trade and all the rest these assholes have coming at us.
This bill alone should have the man impeached.
WORST. POTUS. EVER.
EVAH!!!!!!
@whthfk, tell us how you really feel! Just kidding, you are right. Everything this moron touches is meant to destroy America as we know it. We need him to be out in 2012 or sooner. It probably won’t happen sooner, so ’12 is our best shot. Wouldn’t it be hilarious if more and more states require him to show the long form birth certificate or he can’t be on the ballot. Just saying
What the F*!K ( OVER )
Obama is the most successful communist traitor mole in history. Bar none.
tommysixscrs says:
It’s going to be up to the states to save us we can’t count on Issa he pretty much just sucked obama’s dick in his “it wouldn’t be the worst thing if obama had a second term or something like that.
I’m hoping for a whole lot of States to require long form birth certificates and a premier document examiner to prove obama’s is from the right state at the right time with the right seal, the right ink and all those other little things those people do.
I don’t understand why they haven’t forge one yet?
800,000 will lose jobs…but incredibly… unemployment will stay at 9%
fudging the numbers is what liberals do best…
dogman, that term brought back memories. I don’t think I’ve heard it since my army days over 30 years ago!
Wrong, people will NOT “lose” jobs.
The workforce WILL be reduced by people who voluntarily stop working just to be able to pay for their healthcare.
CBO report: “The Congressional Budget Office estimates that the legislation, on net, will reduce the amount of labor used in the economy by a small amount—roughly half a percent—primarily by reducing the amount of labor that workers choose to supply … That net effect reflects changes in incentives in the labor market that operate in both directions: Some provisions of the legislation will discourage people from working more hours or entering the workforce, and other provisions will encourage them to work more.”
The evil alien dickweed in the WH needs to be indicted for sedition, treason, and multiple other crimes, then tried and convicted to the full execution of the law and real American justice.
We must purge all of those that are truly modern evil incarnate.
ObommieDaCommie is the destroyer. His goal is to destroy hundreds of thousands of jobs in the health care industry. All of those private companies will be put out of business. All of those people without jobs, kids without food, it is so maddening.
You all are sad excuses for Americans.
Actually! Once again you morons get your facts wrong! The CBO found that people, under the Affordable Care Act, would be able to RETIRE earlier! Due to healthcare being cheaper! And more affordable! In other words, as usual, you’re all WRONG. When are you morons ever right??
@ Chester Bogus.,You wonder why people talk to you the way they do. Could it possibly be the way you talk to others ?How does calling people morons prove whatever point you may think you have prove anything.Go away .
here’s a quote releted to this matter: “… will increase the appeal of health insurance plans offered outside the workplace for older workers. As a result, some older workers will choose to retire earlier than they otherwise would”
basiclly, (like mentioned before here), people would QUIT thier jobs, and in my book, that means MORE job openings, so that’s not 800,000 people lossing thier jobs, that’s 800,000 MORE job openings, thanks to this bill.
Constitutionman says:
February 10, 2011 at 8:28 pm…
We must purge all of those that are truly modern evil incarnate
which means most of Congress and ALL of o’s czars and appointments. I”m still reeling over the “intelligence” of our CIA, etc.
let’s get busy.
and let’s ignore Chesterbogus, he’s obviously a troll.
“…so that’s not 800,000 people lossing thier jobs, that’s 800,000 MORE job openings…”
#################################
By your logic…if 800,000 quit their jobs
then 800,000 people take those vacancies….it’s a wash…
nothing lost… and nothing gained….
However… what incentives will these companies have to hire new workers
to replace those who quit their jobs…
for that “free” healthcare that isn’t really “free”…
the companies are still paying for the retired employees “free” healthcare
so they can’t possibly take on new employees and give them healthcare…
it’s just one gigantic shell game…
Expected to reduce the number of jobs in the market by approximately 800,000 is approximately 800,000 jobs lost no matter how much you want to call someone else a moron or say that 800,000 people will quit, retire or whatever. As Sheriff Joe Biden would say those jobs are gone and aren’t coming back.