Obamacare has been a disaster since its inception.
It's done nothing it promised to do; is poised to cost additional hundreds of billions of dollars, and now, according to Obama's own guy in charge of the Congressional Budget Office... will likely cost us 800,000 jobs.
Eight.
Hundred.
Thousand.
Many states in the United States don't have that many people in their entire work force. Some don't have that many people in the entirety of their state.
And the Empty Suit in the White House things this is a good idea?
Every day, in almost every way, this guy proves himself to be a moron... an embarrassment... a huge mistake.The Blog
CBO Director Says Obamacare Would Reduce Employment by 800,000 Workers2:37 PM, Feb 10, 2011 •
By JEFFREY H. ANDERSONTestifying today before the House Budget Committee, Congressional Budget Office (CBO) Director Doug Elmendorf confirmed that Obamacare is expected to reduce the number of jobs in the labor market by an estimated 800,000. Here are excerpts from the exchange:
Chairman [Paul] Ryan: “[I]t’s been argued...that the new health care law will create jobs and increase labor force participation. But if I recall from your analysis, it was quite the opposite. Is that not the case?”
Director [Douglas] Elmendorf : “Yes.”...
[…]
Rep. [John] Campbell: Thank you, Mr. Chairman, we'll -- and Dr. Elmendorf -- and we'll continue this conversation right now. First on health care, before I get to -- before I get to broader issues, you just mentioned that you believe -- or that in your estimate, that the health care law would reduce the labor used in the economy by about 1/2 of 1 percent, given that, I believe you say, there's 160 million full-time people working in '20-'21. That means that, in your estimation, the health care
law would reduce employment by 800,000 in '20-'21. Is that correct?Director Elmendorf: Yes. The way I would put it is that we do estimate, as you said, that...employment will be about 160 million by the end of the decade. Half a percent of that is 800,000.
When a comparison between Jimmy Carter and you has you coming out on the short end... it's time to reassess.
Obama has proven himself to be a disaster in both domestic and foreign policy. Unfortunately, that leaves little else.
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3 comments:
I have NO opinion on this post.
I did, however, immediately Google the story. There is no detailed explanation - only the scary, quick, judgmental blog postings so far.
I'm really curious to see how this story plays out...
I'll post again after it does.
As long as the quotes are accurate... doesn't it speak for itself?
What type of "detailed explanation" is required... if that's what the CBO guy said?
His office also said:
"President Obama’s economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday"... it would actually "... lead to a lower Gross Domestic Product over the next 10 years than if the government had done nothing."
http://www.washingtontimes.com/news/2009/feb/04/cbo-obama-stimulus-harmful-over-long-haul/
Seems we didn't pay attention to them then, either.
I need to get into a room with these "experts." Either there's some secret information I don't know about - or I'm dumb...
Could be?
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