Hooray for Obama!!!

Cancel 2016.2

Cancel 2016.2

The Almighty
http://thehill.com/blogs/on-the-money/budget/197365-cbo-o-care-slowing-growth

The new healthcare law will cost the nation about 2.3 million jobs by 2021 and contribute to a $1 trillion increase in projected deficits, the Congressional Budget Office (CBO) said in a report released Tuesday.


The nonpartisan agency’s report found the healthcare law’s negative effects on the economy will be “substantially larger” than what it had previously anticipated.


The findings from the nonpartisan agency immediately roiled the debate over the healthcare law on Capitol Hill ahead of a midterm election that Republicans hope will be dominated by the fight over ObamaCare.

It triggered a swift pushback from the White House, which sought to dismiss suggestions from Republicans that the healthcare law has contributed to a slower economic recovery.


The CBO is now estimating the law will reduce labor force compensation by 1 percent from 2017-2024 — twice the reduction it previously had projected. This will decrease the number of full-time equivalent jobs in 2021 by 2.3 million, the CBO said. It had previously estimated the decrease would be 800,000.
Click to expand...

Job losses? No way! Who could have predicted that?

The CBO report said the slower economic growth it now projects will mean fewer tax revenues, which will add to the deficit. Instead of adding $6.3 trillion in deficits from 2014 to 2023, the government will add $7.3 trillion, the CBO now projects.
Click to expand...

Bigger deficits? NO WAY! Who could have predicted that?

By 2023, the gross debt of the United States will be $26 trillion, up from a projected $25 trillion. A year later, the debt will rise to $27 trillion as the $1.074 trillion deficit for fiscal 2024 is added in.
Click to expand...

But, but, but... I thought Obama had cut the deficit in half... yet we are still projected to add another $10T to the debt in the next ten years. Hmmmmm... lets do that math... ten years, ten trillion... one trillion per year over the next ten years on average.

WAY TO GO OBAMA!!!


​
 
I remember all the gloom and gloom predictions by the CBO that haven't come to pass.

I'll just file this in that file and wait to see.

Thanks
 
Last edited:
How is it "job loss" if people are choosing not to work?

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, so it will appear almost entirely as a reduction in labor force participation and in hours worked relative to what would have occurred otherwise rather than as an increase in unemployment (that is, more workers seeking but not finding jobs) or underemployment (such as part-time workers who would prefer to work more hours per week).
Click to expand...


What's wrong with that?
 
I was just thinking that we need like a DH Batman type light for times like this and lo and behold. I was pretty sure something is very wrong here. LOL

I think too that there are people who obviously work just for the benefits. Plenty of people actually have to do that. Also, there are plenty of people who would quit their jobs and start their own businesses. There's a lot in play here.
 
aeprga said:
How is it "job loss" if people are choosing not to work?




What's wrong with that?
Click to expand...

It's a good thing people are choosing not to work? I understand if you reach a certain level of income you can lose your premium health subsidies so there is a disincentive for work there. But I don't see how that's a positive.
 
cawacko said:
It's a good thing people are choosing not to work? I understand if you reach a certain level of income you can lose your premium health subsidies so there is a disincentive for work there. But I don't see how that's a positive.
Click to expand...

That's an oversimplification:


What the CBO really found was that the numbers of hours worked would decrease under Obamacare, by roughly 1.5 percent to 2 percent between 2017 and 2024. The report then translated those lost hours into the equivalent of 2.5 million jobs. But that doesn't mean 2.5 million jobs are going to disappear from the U.S. economy.

The CBO report, in fact, specifically undermines that claim. Those lost hours will "almost entirely" be the result of people choosing to work fewer hours because of Obamacare -- not because they lost their jobs or can't find a full-time job.

"I think it’s important to distinguish between people choosing to work less and jobs being lost," Larry Levitt, vice president at the non-partisan Kaiser Famiy Foundation, told TPM. "That is something important to keep an eye on, since you don’t want to discourage work. But, it’s not in all cases a bad thing."

"For example, some people in their late 50s and early 60s would like to retire because they have health issues but have kept working for the health benefits. Some of them can now retire because they can’t be discriminated against for having a pre-existing condition and may get help paying their premiums."

http://talkingpointsmemo.com/dc/oba...al&utm_source=twitter.com&utm_campaign=buffer
 
cawacko said:
It's a good thing people are choosing not to work? I understand if you reach a certain level of income you can lose your premium health subsidies so there is a disincentive for work there. But I don't see how that's a positive.
Click to expand...

got to keep more people down so the Dems can control them with handouts...
 
Darla said:
That's an oversimplification:


What the CBO really found was that the numbers of hours worked would decrease under Obamacare, by roughly 1.5 percent to 2 percent between 2017 and 2024. The report then translated those lost hours into the equivalent of 2.5 million jobs. But that doesn't mean 2.5 million jobs are going to disappear from the U.S. economy.

The CBO report, in fact, specifically undermines that claim. Those lost hours will "almost entirely" be the result of people choosing to work fewer hours because of Obamacare -- not because they lost their jobs or can't find a full-time job.

"I think it’s important to distinguish between people choosing to work less and jobs being lost," Larry Levitt, vice president at the non-partisan Kaiser Famiy Foundation, told TPM. "That is something important to keep an eye on, since you don’t want to discourage work. But, it’s not in all cases a bad thing."

"For example, some people in their late 50s and early 60s would like to retire because they have health issues but have kept working for the health benefits. Some of them can now retire because they can’t be discriminated against for having a pre-existing condition and may get help paying their premiums."

http://talkingpointsmemo.com/dc/oba...al&utm_source=twitter.com&utm_campaign=buffer
Click to expand...

How does your link show what I stated was an oversimplification? It's stating exactly what I said.
 
Superfreak said:
got to keep more people down so the Dems can control them with handouts...
Click to expand...

Here's an important point made by another dummy:

"But those nuances haven't stopped the horse-race coverage from reading the report as a win for Republicans and a devastating blow to Democrats. At the Washington Post, Chris Cilliza gets the facts of the CBO report correct, but says it doesn't matter. Republicans can still use it against Democrats."

And here you are! Right on schedule. Do you get stuff in your inbox from the RNC? Tell the truth and shame the devil SF!
 
Superfreak said:
http://thehill.com/blogs/on-the-money/budget/197365-cbo-o-care-slowing-growth



Job losses? No way! Who could have predicted that?



Bigger deficits? NO WAY! Who could have predicted that?



But, but, but... I thought Obama had cut the deficit in half... yet we are still projected to add another $10T to the debt in the next ten years. Hmmmmm... lets do that math... ten years, ten trillion... one trillion per year over the next ten years on average.

WAY TO GO OBAMA!!!


​
Click to expand...
Just think. That's 2.3 million more people you'll be able to ridicule! :)
 
Darla said:
Here's an important point made by another dummy:

"But those nuances haven't stopped the horse-race coverage from reading the report as a win for Republicans and a devastating blow to Democrats. At the Washington Post, Chris Cilliza gets the facts of the CBO report correct, but says it doesn't matter. Republicans can still use it against Democrats."

And here you are! Right on schedule. Do you get stuff in your inbox from the RNC? Tell the truth and shame the devil SF!
Click to expand...

Do you ever get tired of making excuses for Obama and the disaster he has been as a President? Do you get embarrassed that you voted for a man that is actually WORSE than Bush?
 
Darla said:
I'm pretty sure the CBO report is being interpreted incorrectly here.
Click to expand...
Why don't we just cut the military budget in half and spend it on infastructure projects that are so badly needed? That would create between 20 and 30 million jobs? Oh that's right! The congressional Republicans won't let us!
 
Mott the Hoople said:
Why don't we just cut the military budget in half and spend it on infastructure projects that are so badly needed? That would create between 20 and 30 million jobs? Oh that's right! The congressional Republicans won't let us!
Click to expand...

Not sure we could get half... because even Dems fight the DoD cuts when it hits their State or district.

So pretending it is the Reps in the way is a bit dishonest.

That said, I would fully support your plan... at least for a third of the DoD budget.
 
You must log in or register to reply here.
Back
Top