Health & Fitness
Relax, Cong. Kline: CBO says you got it wrong
In response to the recent Congressional Budget Office report, Congressman John Kline said: “The president’s health care law is destroying full-time jobs,” and “wreaking havoc on working families nationwide.”http://www.inquisitr.com/1128679/cbo-says-relax-everyone-obamacare-will-not-cost-2-5-million-jobs/#wAOxDQ9x2lIW47qo.99
The CBO, in reply to Kline's "sky is falling" concerns said , on Feb 10:
Q: Will 2.5 Million People Lose Their Jobs in 2024 Because of the ACA?
A: No, we would not describe our estimates in that way.
We wrote in the report: “CBO estimates that the ACA will reduce the total number of hours worked, on net, by about 1.5 percent to 2.0 percent during the period from 2017 to 2024, almost entirely because workers will choose to supply less labor.” The reason for the reduction in the supply of labor is that the provisions of the ACA reduce the incentive to work for certain subsets of the population.
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As the CBO notes, how one chooses the characterize this change in the supply of labor depends on your point of view. For those who choose, happily and voluntarily, not to work because they no longer have to work just for health insurance, it is a good thing. For politicians who want to do nothing more than bash the ACA, it will forever be a bad thing.
