CBO report confirms we were right on Obamacare
Posted in the Top Stories Forum
#1 Feb 6, 2014
Game Changer: CBO Report Confirms Tea Party was Right About Obamacare
February 5, 2014 By Greg Campbell
After years of preparation and months of circling the drain, it appears the final nail may have been put in the Obamacare coffin as the Congressional Budget Office (CBO) has released a scathing report that highlights the rampant fiscal infeasibility and the loss of millions of jobs thanks to Obamacare.
The lengthy report detailed many shortcomings of the doomed healthcare overhaul and, in short, it found that in ten years, the same amount of people will be uninsured thanks to Obamacare and, more importantly, that 2 million more people will be out of work than if the law had never passed.
The report piled on and detailed,“As a result of the ACA, between 6 million and 7 million fewer people will have employment-based insurance coverage each year from 2016 through 2024 than would be the case in the absence of the ACA.”
The CBO report is terrible news for the Obama Administration and Democrats who pushed the legislation onto the American people as their repeated claim has been that Obamacare is needed to insure the millions of uninsured Americans. According to the CBO report, in 10 years, 6 to 7 million Americans will not be getting healthcare from their employer who otherwise would have had Obamacare never been enacted.
Across the board, the CBO report outlines the disastrous effects of Obamacare and even notes that the federal subsidies reduce the incentive to work. The report states,
“In addition, reduced incentives to work attributable to the Affordable Care Act (ACA)– with most of the impact arising from new subsidies for health insurance purchased through exchanges – will have a larger negative effect on participation toward the end of .”
Reducing the incentive to work has far-reaching effects as it will cut into the labor supply, increase prices, hurt the economy in enumerable ways and create higher deficits. Further, decreasing tax revenue will likely cause tax increases for those still working.
Democrats have tried to make lemonade out of lemons with the CBO report, claiming that the report showcases the positive aspects of Obamacare in that people who were once trapped in a job with the promise of healthcare coverage can now more-easily move within the job market. However, such flimsy reasoning is likely to fall flat with voters as Republicans will likely reference Tuesday’s CBO report in the coming months as we near the 2014 midterm elections.
The Washington Post’s Dana Milbank called the report a “game-changer” and admitted the devastating nature of the report for Democrats, writing,
“This is grim news for the White House and for Democrats on the ballot in November. This independent arbiter, long embraced by the White House, has validated a core complaint of the Affordable Care Act’s (ACA) critics: that it will discourage work and become an ungainly entitlement. Disputing Republicans’ charges is much easier than refuting the federal government’s official scorekeepers.
White House officials rushed to dispute the referee’s call — arguing, somewhat contradictorily, that the finding was both flawed and really good news if interpreted properly.”
Though the Democrats are indicating that they intend to cherry-pick and creatively interpret the CBO report’s findings, the fact remains that what Republicans and conservatives have been saying all along appears to hold true; Obamacare costs jobs, hurts the economy and does nothing to insure the previously-uninsured
- See more at: http://www.tpnn.com/2014/02/05/game-changer-c...
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