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Checking the CBO on ACA job loss projections

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Today, this analyst and political examiner is a “checker”. First, there was the Wall Street Journal fib check, and now it is the Congressional Budget Office. Game on.

According to The Hill, one source that is truly reliable and trustworthy, the CBO estimates that the nation will lose 2.5 million workers in the next ten years resulting from the Affordable Care Act.

Compare:

  • Advantage: 37-50 million uninsured people obtain healthcare coverage.
  • Disadvantage: The job pool loses 2.5 million workers over 10 years.

Which is better? Which is worse?

Having every American out of poverty and with healthcare coverage is a national imperative.

Agree or disagree?

If the Affordable Care Act reduces the job pool by 2.5 million jobs, is there no recourse? Yes, there is recourse. The economic system can and should be engineered to replace lost jobs.

In fact, economic sustainability with full employment is a requirement for the government and private sector partnership. It is not an option.

Focusing on one tiny metric out of context of the entire system and required outcomes is noise in the system.

True is that the government and private sector partnership is presently delinquent in providing economic sustainability. Also, true is that if the government controls immigration properly and addresses economic sustainability, a good life for all is readily attainable.

Does anyone want to debate that? Game on.

“The healthcare reform law will cost the nation the equivalent of 2.5 million workers in the next decade, the Congressional Budget Office (CBO) estimated Tuesday. The nonpartisan agency found the reform law’s negative effects on the economy would be “substantially larger” than what it had previously anticipated.

It said the equivalent of 2.3 million workers would be lost by 2021, compared to its previous estimate of 800,000, and that 2.5 million workers would be lost by 2024. It also projected that labor force compensation would be reduced by 1 percent from 2017 to 2024 — twice its previous estimate — and that declining economic growth would add $1 trillion more to deficits.

The revelations came as part of a wider report that concluded (1) that the government will actually pocket $8 billion in profit from ObamaCare's "risk corridors" program, which Republicans have called a bailout, and (2) that the botched rollout of HealthCare.gov and ongoing problems with the insurance exchanges will lower expected enrollments in private coverage and Medicaid by at least 1 million people each.”

http://thehill.com/blogs/on-the-money/budget/197365-cbo-o-care-slowing-growth

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