Tuesday, February 4, 2014

White House: Incentivizing 2 Million Americans Not To Work Is A Good Thing!

Another Obamacare success story!

This is not satire; unfortunately.

The Congressional Budget Office released a report today concluding that the Affordable Care Act will cause a larger-than-expected reduction in working hours—eliminating the equivalent of about 2.3 million workers in 2021.  The previous CBO estimate was about 800,000 worker equivalents.

The estimate is based on the fact that as one earns more money the subsidies for healthcare insurance decrease thus incentivizing people to work less than they otherwise would.  As a result, the CBO projects that economic growth will be less than previously predicted.

Buzzfeed quotes a White House officials' response that the CBO finding:

“shouldn’t be a significant cause for surprise and it reflects the fact that workers have a new set of options and are making the best choices that they can choose to make for themselves given those options,”

To clinch his argument, the unnamed official then went on to say that if we eliminated Medicare and Social Security we'd have a lot more 95-year olds working

Maybe every American should be given a subsidy - that way no one would have to work and the Administration could claim an even greater success!  Actually, they are well on their way towards that goal as labor force participation rates are already at the lowest rates in decades.

But wait, if we did that who would pay for it?  The Other Guy, of course.

No comments:

Post a Comment