picture hat tip TPM DC
After shown to be wrong by Factcheck.org in its analysis, the Fox News group and Republicans are at it again with a worn out commentary on how Obamacare kills jobs. This time they are using the CBO’s new analysis on the impact of Obamacare. Sometimes, I wish the CBO’s Douglas Elmendorf would simply shut up and keep his calculations and thoughts to himself. From Healthcare taking over the economy which Louise Sheiner and Glen LaFollette debunked and Yves Smith at Naked Capitalism portrayed; to Fair Market Valuation of Student Loans for risk even when Student loans can not be discharged in bankruptcy and make a greater return in default; and now the nebulous wording in a recent CBO report;
“The reduction in CBO’s projections of hours worked represents a decline in the number of full time-time equivalent workers (page 117) of about 2.0 million in 2017, rising to about 2.5 million in 2024.”
What this really means is Labor can work fewer hours as a result of Obamacare causing healthcare insurance to be less costly. The number of hours needed to work would decrease 1.5 to 2%. People may want to work less and it sounds like they will opt to work less. The Republicans and Tea-baggers (their right of right brothers) just made their own version of the CBO’s report. The entire blog-o-sphere is laughing at Fox News and the Republicans with their obvious effort to distort the report.