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Hello ObamaCare/bye-bye jobs

Posted: Feb 10, 2011

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.

;

Ahem. A little clarification is in order. Lets start by - expanding the context beyond

[ In Reply To ..]
a few select excerpts taken from a CBO report from last August, despite the fact that the GOP is trying to hype this as new information hot off the presses. When reviewing the actual statements, keep in mind that reduction in employment is NOT the same thing as jobs loss, despite their best effort to spin the CBO forecastt with smoke and mirrors semantics. This is patently obvious in the following examples:

"The Verdict Is In: CBO Confirms New Health Care Law Will Cost Jobs," which was the title of a Senate Republican Conference press release. Or

"CBO: ObamaCare Will Destroy 800,000 Jobs," a headline from the National Republican Congressional Committee.

In fact, the reports said that more people (particularly seniors nearing retirement) will VOLUNARILY leave the workforce or work fewer hours on account of greater access to affordable health care, instead of feeling forced to work in order to acquire health insurance through employers.

From where I sit, if folks leave the estimated 800,000 jobs by choice, that means that the same 800,000 jobs actually will OPEN UP for new employees entering the workforce, a kind of jobs creation by default.

Read more here:

http://thehill.com/blogs/healthwatch/health-reform-implementation/143379-gop-jumps-on-old-cbo-job-numbers

Nice try.

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