Obamacare in the news
A look at some numbers from Tyler Durden at
Zero Hedge:
Obamacare To Crush Workforce By 2.5 Million Workers In Next Decade, CBO Admits
When the "impartial" Congressional Budget Office first attempted to predict the impact on the US labor force as a result of the administration healthcare ponzi scheme, also known affectionately as Obamacare and less affectionately by other names, it estimated that 800,000 Americans would drop out of the labor force by 2021. Moments ago it just revised that projection, admitting that it was off by the usual 100% or so: the hit to the US labor force due to Obamacare is now estimated to soar to 2.3 million through 2021, and furthermore the CBO just admitted that the enrollment rate will be dramatically below the White House's baseline estimates, with 2 million fewer people signing up this year than previously estimated.
In brief, as the CBO admits (before it is forced to adversely reduce the numbers once more) the law will lead to 2 million fewer workers in 2017, 2.3 million in 2021 and 2.5 million through 2024. This represents a 1.5% to 2.0% reduction in the numbers of hours worked. As the WSJ recalls, CBO last year projected 7 million people would enroll for health insurance through health care exchanges in 2014, but Tuesday it said technical problems that plagued the program's rollout forced it to lower its estimate by 1 million people.
"Those changes primarily reflect the significant technical problems that have been encountered in the initial phases of implementing the [law]," the CBO said. It said it couldn't yet revise estimates for future years. CBO also projected 8 million new people would qualify for Medicaid and other expanded coverage this year, down from a 2013 estimate of 9 million people.
Tyler has a lot more at the site -- pretty grim stuff...
Posted by DaveH at February 4, 2014 3:16 PM