. . . this time, courtesy of the CBO.
The CBO has analyzed the economic impact of ObamaCare over the next decade. And the results are in.
Obviously, it’s a rousing success.
I mean, we all know just how “overheated” the economy has been the past few years, right? Isn’t pretty much every employer out there attempting to hire more employees – and failing because they can’t find them? Isn’t the US civilian labor participation rate at an all-time high? Isn’t underemployment virtually unknown? Isn’t inflation threatening to spiral out of control?
But it’s ObamaCare to the rescue! By 2025, the effects of ObamaCare are projected to remove the equivalent of 2 million jobs from the US economy! That will certainly cool things down,won’t it? Hurrah! We’re saved.
Yes, the above was sarcasm. All of it is bullsh!t.
Well, all of it was bullsh!t except the “remove the equivalent of 2 million jobs” part. Because that’s exactly what the CBO is now projecting ObamaCare will do by 2025 – remove the equivalent in labor hours of 2 million jobs from the US workforce.
It’s pretty much what everyone with two or three working brain cells predicted a priori. The law gives employers a disincentive to hire full-time workers; ObamaCare subsidies gives people an incentive to quit working or reduce their hours. The results are entirely predictable – and were indeed predicted ahead of time by many.
And for that “wonderful” outcome, we can thank the clueless fools and tools running the show in DC in 2009 majority in Congress and the Administration in power in 2009. Anyone remember who those were?