AS THE BRITS SAY, A BIT OF BOTHER – AT 8:52 A.M. ET: One aspect of the debate over Obamacare is the issue of its effect on American jobs. Apparently, the pitcher is less than half full. Maybe less than half full. Maybe almost empty. From the Daily Caller:
Congressional Budget Office (CBO) Director Doug Elmendorf confirmed Thursday during a House Budget Committee hearing that President Barack Obama’s health care law will reduce the workforce by 800,000 by 2021 because some individuals will no longer have to work just so they can afford health insurance, Politico reported Thursday.
“[I]t’s been argued…that the new health care law will create jobs and increase labor force participation,” said House Budget Committee Chairman Paul Ryan. “But if I recall from your analysis, it was quite the opposite. Is that not the case?”
“Yes,” replied Elmendorf.
Elmendorf agreed with Republican California Rep. John Campbell’s claim that the health care law would reduce employment by 800,000.
COMMENT: But remember, those idle 800,000 can get jobs as demonstrators in Cairo, since the demonstrations will probably still be going on in 2021. In the Mideast, things happen slowly.
February 11, 2011