Skip to comments.CBO: Obamacare Will Lead To 2 Million Fewer Workers In The Labor Force By 2017
Posted on 02/04/2014 9:32:21 AM PST by SeekAndFind
The Congressional Budget Office on Tuesday said that the Affordable Care Act will contribute to the equivalent of 2 million workers out of the labor market by 2017, as employees work fewer hours or decide to drop out of the labor force entirely.
The CBO revised much of its outlook on the Affordable Care Act in a new report released Tuesday.
From the report:
CBO estimates that the ACA will reduce the total number of hours worked, on net, by about 1.5 percent to 2.0 percent during the period from 2017 to 2024, almost entirely because workers will choose to supply less labor given the new taxes and other incentives they will face and the financial benefits some will receive.
The reduction in the numbers of hours worked projected by the CBO will lead to the equivalent of 2 million fewer workers in the labor force in 2017. That number will rise to about 2.5 million in 2024. Previously, the CBO had estimated the equivalent of 800,000 fewer workers by 2021.
" Although CBO projects that total employment (and compensation) will increase over the coming decade, that increase will be smaller than it would have been in the absence of the ACA," the CBO said in the report.
(Excerpt) Read more at finance.yahoo.com ...
My wife and I are both retired citizens. One of the things we do is to try and avoid traffic jams and crowds when we go out for lunch and to do our errands.
So, when we go out to lunch it is usually after the so called lunch hour, 12:45 pm to 1 pm.
Since the first of the year, we have noticed two interesting trends:
1. Even less people than normal in the good restaurants and better so called fast food places for lunch. Finding a parking place rarely occurs now.
2. Often, there is a what appears to be a mini rush hour re traffic from 1:30 pm to 2:30 pm, like we used to have after 3:30 pm and then 5 pm plus or minus a half hour. The drivers dont appear to be going shopping or after school kids. Usually just a driver and no passengers, lining up at the traffic lights.
My wife knows many friends and others, who have had their work day hours cut to 4 to 6 hours per day. Even Walmart and other chains are cutting the daily hours for their employees since the first of the year.
A younger relative couple living in an East Bay county are seeing similar traffic patterns re a new mini rush hours. The husband is getting home about 15 to 25 minutes early. He said the end of the work day traffic is a lot lighter, and the going to work traffic is about the same. The wife usually does her shopping and errands from 2 to 3:30 pm before picking up their kids at school. She said that the traffic loads during that time are similar to past yearss after 3:30 pm.
Libs are hailing it as fantastically good news.
Because it will kill them? Or will they just be laid-off?
Sound as though they’ll have to increase the number of proposed death panels.
Seems to me between the:
If you like your healthcare plan you can keep it PERIOD
If you like your doctor you can keep him PERIOD
Obamacare will not ad one cent to the deficit
Obamacare will reduce healthcare premiums
All of this sums up to a breach of verbal contract and violates the Unfair and Deceptive Acts and Practices (UDAP) statutes in each of the fifty states and the District of Columbia constitute the main lines of defense protecting consumers from predatory, deceptive, and unscrupulous business practices.
n order to win a breach of contract case, you will need to establish that:
a contract existed
Verbal & recorded over 20 + times on national TV and now the CBO has provided proof.
the contract was broken
the defendant is the proper party to sue
you suffered a monetary loss
Taxed out the ass to cover it
Seems to me if everyone would submit a small claims suit against Obama we could flood the courts.