CBO Obamacare will add to deficit, 2 million fewer full time jobs, Combined deficit just under $1.2 trillion, Creates reluctant work force, No compelling evidence companies increasing part time employment??

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

From Market Watch February 4, 2014.

“CBO says Obamacare will add to deficit, create reluctant work force”
“The number of people receiving health coverage through public exchanges under President Obama’s health-care overhaul will total roughly 25 million by 2018, will add more than $1 trillion to the federal deficit over the next decade and could very well create a small contingent of workers unwilling to work for fear of losing federal medical aid.

Those are the findings from a Congressional Budget Office report released Tuesday, which also said the number of those receiving subsidies through exchanges will total 20 million in that time.

The report is sure to give ammunition to Republicans and other foes of the Affordable Care Act, who have repeatedly warned of Obamacare’s shortcomings and are trying to repeal it. It also creates a major issue for the president, who has repeatedly said the ACA will be revenue neutral. Instead, the CBO projects that it will account for increasing chunks of deficit spending, starting at $20 billion this year and steadily increasing to $159 billion in 2024, for a collective deficit of just under $1.2 trillion.

Not only does the report on the federal budget take an in-depth look at the ACA and its effects on the budget, but also on the work force in general. Most of these effects won’t hit until after the next few years, once Obamacare has had a chance to gain momentum and get going.

One of the CBO’s most intriguing estimates is that by 2017 there will be 2 million fewer full-time jobs on the market than there would have been without Obamacare, and that figure could climb to 2.5 million by 2024.”

“The CBO says it has seen “no compelling evidence” that companies are increasing part-time employment in order to avoid facing mandatory coverage of employees.”

Read more:

http://blogs.marketwatch.com/health-exchange/2014/02/04/cbo-says-obamacare-will-add-to-deficit-create-reluctant-work-force/?mod=MW_home_latest_news

CBO report.

http://www.cbo.gov/sites/default/files/cbofiles/attachments/45010-Outlook2014.pdf

“The CBO says it has seen “no compelling evidence” that companies are increasing part-time employment in order to avoid facing mandatory coverage of employees.”

Really!

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013