Monday
July
28
2014
3:33 pm
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 

Check out our archive of Dining Guides - Yum!

OP-ED: The job loss from the Affordable Care Act
February 07, 2014, 05:00 AM Boston Herald

When it comes to Obamacare, the bad news train keeps rollin’.

A stunning report from the nonpartisan Congressional Budget Office this week more than tripled the number of Americans who, thanks to the Affordable Care Act, will likely be out of the workforce by 2024, from the equivalent of 800,000 full-time workers to 2.5 million.

“CBO estimates that the ACA will reduce the total number of hours worked, on net, by about 1.5 to 2 percent during the period from 2017 to 2024, almost entirely because workers will choose to supply less labor — given the new taxes and other incentives they will face and the financial benefits some will receive,” the report notes.

Since taxpayer subsidies to purchase insurance will shrink and premiums rise with workers’ income there will be a disincentive for some individuals to work more, the report notes. Expanded eligibility for Medicaid is a similar disincentive. Meanwhile the financial penalty paid by larger employers who don’t provide adequate coverage to workers is likely to chill working hours, too.

But don’t take the CBO’s word for it — just ask the sales clerks from Lord & Taylor or Saks Fifth Avenue or Target, whose employers have already announced plans to drop coverage for part-time workers because of the cost. How long before more full-time workers become part time?

And what price the dysfunctional Obamacare website? CBO projects 2 million fewer Americans will enroll in health insurance plans via the exchanges or the Medicaid program this year than projected, thanks to the site’s “significant technical problems.”

Of course the ostriches who occupy the White House continue living in a state of denial. They are touting the CBO’s projections as a good thing, arguing the 2.5 million are really just exercising a personal choice to, say, “spend more time with their families.”

“This is all about choices created by the availability of quality, affordable health insurance,” White House spokesman Jay Carney said. Unemployment as just another appealing choice. Well, that’s a new one for Democrats.

 

 

Tags: workers, insurance, million, report,


Other stories from today:

 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
What do you think of President Obama's foreign policy?

Agree with it
Like the concept, but it's not working
Disagree with it
Think he needs an adjustment
Not clear what it is

 

 
 
 
 
 
 
Virgin America files plans for IPO
The California-based airline filed on Monday for an initial public offering of shares. Virgin Amer..
San Bruno alleges misconduct, seeks removal of CPUC president
San Bruno officials called on Gov. Jerry Brown today to remove California Public Utilities Commissio..
Israel denies striking Gaza hospital, park
JERUSALEM — The Israeli military has denied its forces were responsible for an attack on a hospita..
UN chief reinforces call for Gaza cease-fire
UNITED NATIONS — Secretary-General Ban Ki-moon reinforced the Security Council's call for "an imme..
Police team turns back from Ukraine crash site
SHAKHTARSK, Ukraine — Heavy fighting raged Monday around the Malaysia Airlines debris field, once ..
More >>  
 
 
  
 
  
 
©2014 San Mateo Daily Journal
San Mateo County garage sales