CBO: Obamacare Will Cost USA 2.5 Million Jobs!

Lately, President Obama has acknowledged something that is quite obvious. The US economy has fundamentally changed, so that the interests of rich people and middle-class (less rich but still WAY well off) people are all that matter. The large, majority population, of poor Americans has no hope for any future prosperity. Therefore, paying them (very little) to go off and leave the successful minority alone is the new Democratic plan. That's still better than the GOP plan (or dream), which just cuts to the chase and reinstates slavery.
President Obama has been great for rich people. For poorer Americans, for American workers, the best you can say for the conservative Democrat is that he isn’t a Republican.

But, because Obama faced no realistic alternative in the GOP—i.e., none appealing to the interests of poor people instead of the luxuriating 1-percenter crew—the President and his Democrats have consistently moved to the far right on social spending commitments.

This has meant, for example, big cuts to SNAP, the supplemental food and nutrition program for poor Americans—whose numbers have swelled under Obama. Meanwhile, Democrats have voted for big increases in subsidies for rich farmers in the farm bill finally headed to Obama's desk for his signature.

Now, a new CBO (Congressional Budget Office) report paints a dire picture for poorer Americans, as the Republican-style Affordable Care Act (Obamacare) will effectively force millions of lower income workers to reduce employment hours to keep their Obamacare subsidies.

CBO predicts the work reductions could amount to 2.5 million total jobs eliminated by the impact of Obamacare:

“The reduction in CBO’s projections of hours worked represents a decline in the number of full-time-equivalent workers of about 2.0 million in 2017, rising to about 2.5 million in 2024.”

The effective loss of 2.5 million jobs is not exactly what the Obama administration wants to point to as a benefit of its signature health care program. Consistently the White House has rejected the idea that Obamacare would be bad for the nation’s economy.

On Tuesday, the White House had a statement on the new CBO report:

“CBO finds that because of [Obamacare], individuals will be empowered to make choices about their own lives and livelihoods…we noted that as part of this new day in health care, Americans would no longer be trapped in a job just to provide coverage for their families, and would have the opportunity to pursue their dreams.”

But, that isn’t really what the CBO report says. Here is CBO’s explanation for the choices millions of workers will make to permanently work fewer hours:

“[T]he largest declines in labor supply will probably occur among lower-wage workers…CBO’s estimate that the ACA will reduce employment reflects some of the inherent trade-offs involved in designing such legislation. Subsidies that help lower- income people purchase an expensive product like health insurance must be relatively large to encourage a significant proportion of eligible people to enroll. If those subsidies are phased out with rising income in order to limit their total costs, the phaseout effectively raises people’s marginal tax rates (the tax rates applying to their last dollar of income), thus discouraging work.”

So, let us compare the White House’s idea, that the reduction in effective jobs is all about workers having “the opportunity to pursue their dreams”, with the reality for “lower-wage workers”, that their big dream is now just to hold down their incomes to poverty levels in order to qualify for subsidies they need in order to buy the “expensive” health insurance they are forced by Barack Obama to purchase.

But, you haven’t heard the best part. Even with the subsidies, these now much poorer Americans, should they get sick, will still face huge co-pays and deductibles with their awful Obamacare policies, expenses that can effectively render their insurance policies unusable, or render the patients bankrupt if they choose to use them.

Finally, in looking at the ways in which Obamacare fails to serve the people it was intended to help, a review of the Obamacare website’s  “Quick Check Chart” reminds us of the many truly poor Americans, who live in the half of states where Medicaid is not being expanded, and who get this heartening rejection notice from Barack Obama:

“You may not qualify for any Marketplace savings program.”

In other words, they’re too poor too be helped by anybody. That’s right, the poorest of the poor are denied coverage by Obamacare’s awful deficiencies.

Everything about Obamacare is great for insurance companies, for doctors, and hospitals, and drug companies, for the corporate rich guys that Barack Obama and the Democrats kowtow to. But, as with so much of the policy-making from this alleged liberal administration, the most vulnerable Americans, the ones who should be served first instead of tossed under the bus first in the political process, are the big losers in Obama’s USA.

Obamacare is a bad program, with destructive effects on the very people who were supposed to benefit from it.

Obamacare should be overturned, not because it’s bad for business (it isn’t), but because it’s bad for American workers.