The following half truth (LIE!) courtesy Paully Ryan and the Weekneed Standard was posted by Nemo on Free Racine and is making all around the wingnut blogospere. The truth, which CONservatism cannot abide, follows below
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.
EXCERPT: However, the CBO prediction is a little more nuanced. Last summer's CBO report said the projected labor reduction is "largely" the result of more people voluntarily staying out of the workforce because the healthcare reform law gives them better healthcare options through an expansion of Medicaid and new state-run health insurance exchanges.
From the report:
"The expansion of Medicaid and the availability of subsidies through the exchanges will effectively increase beneficiaries’ financial resources. Those additional resources will encourage some people to work fewer hours or to withdraw from the labor market."
Further, a ban on discriminating against preexisting conditions will likely "increase the appeal" of health insurance plans offered outside the workplace for older workers.
"As a result," CBO said, "some older workers will choose to retire earlier than they otherwise would." END EXCERPT
Hey, THAT means they'll leave job openings that younger workers can fill. BONUS!
Thank you Nemo for your continued service in allowing me to point out the lies required to advance the Con-servatisma. If you must lie to advance your thoughts, your thoughts are not advanced.