Posts Tagged ‘Doug Elmendorf’

ObamaCare Is A Death Panel For Jobs

February 11, 2011

Let’s call ObamaCare what it is: a death panel for jobs.

Oh, ObamaCare will become a death panel for senior citizens, too.  Don’t get me wrong.  First ObamaCare will take over the health care system.  Then it will poison the entire economy.  Tax collections will go down 1) because unemployed people don’t pay taxes; and 2) because unemployment people actually consume taxpayer dollars.  But ObamaCare will force America to spend trillions of extra dollars.  And then as a result of the ensuing desperate times ObamaCare will create, government bureaucrats will start having to make decisions as to who lives and who dies.

Here are the facts:

CBO Director Says Obamacare Would Reduce Employment by 800,000 Workers
2:37 PM, Feb 10, 2011 • By JEFFREY H. ANDERSON

Testifying today before the House Budget Committee, Congressional Budget Office (CBO) Director Doug Elmendorf confirmed that Obamacare is expected to reduce the number of jobs in the labor market by an estimated 800,000. Here are excerpts from the exchange:

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.

If history is any guide, the CBO is off by a factor of at least ten.  So it will probably be more like 8 million jobs than 800,000.  But it’s really much worse than that.  Our economy is vulnerable.  Bad news has a way of unleashing negative consequences that go far beyond and effect that something taken in total isolation would produce.

This 800,000 – or more probably 8 million – is just chicken feed.  It is part of a much larger Obama death panel for jobs that has already been underway for some time.  As Business Insider puts it:

“Analysis of weekly unemployment data and covered employees shows that 5,977,844 benefit paying jobs have been lost in the last year.”

Here’s the world of hurt Obama has put America in a picture:

That is a very steep slide into a very dark hole.  And it is entirely due to the toxic effects of Obama and the Democrat Party on our economy and on our way of life.

Our economy is going to be a victim of the Obama death panel.  Unless its blatant unconstitutionality doesn’t get this 2,600-page piece of treason overturned first.

“God damn America” is upon us.

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CBO Reveals That ObamaCare Will INCREASE Prescription Drug Prices

November 7, 2010

It’s getting harder and harder to find something about ObamaCare that turns out not to have been a complete load of crap.

U.S. Rep. Ryan: CBO confirms Obamacare will increase drug prices
11/4/2010

In letter to Ranking Member Ryan, CBO highlights the latest health care broken promise

WASHINGTON – In response to a request from House Budget Committee Ranking Republican Paul Ryan of Wisconsin, the Congressional Budget Office [CBO] confirmed that President Obama’s massive health care law will increase prescription drug prices. The CBO confirms the range of onerous restrictions and requirements will drive health care costs up, at odds with the claims made by its proponents. CBO’s letter specifies that manufacturers will have an incentive to raise drug prices and that, as a result, health care costs will increase for some seniors and for those who are uninsured.

In response to the findings, Ranking Member Ryan issued the following statement:

“On Tuesday, the American electorate forcefully repudiated President Obama’s agenda, including his massive health care overhaul. Today, the Congressional Budget Office refuted President Obama’s claims, making clear that his policies will drive health care costs up, not down. Especially troubling for many seniors is the news that their prescription drug costs and premiums will increase as a result of this legislation. I will continue to work to repeal this deeply flawed overhaul, advancing instead patient-centered health care reform and reforms to secure Medicare for current and future generations.”

Highlights from the CBO’s letter to Ranking Member Ryan:

“[The] increase in prices would make federal costs for Medicare’s drug benefit and the costs faced by some beneficiaries slightly higher than they would be in the absence of those provisions…”

“The legislation also imposes an annual fee on manufacturers and importers of brand-name drugs. CBO expects that the fee will probably increase the prices of drugs purchased through Medicare and the prices of newly introduced drugs purchased through Medicaid and other federal programs by about 1 percent. Those increases will be in addition to the ones described above that stem from the new requirements for discounts and rebates.”

“The premiums of drug plans will increase along with the increase in net drug prices, so the premiums paid by beneficiaries will increase slightly.”

To read CBO Director Doug Elmendorf’s Letter to Ranking Member Paul Ryan:
http://cbo.gov/ftpdocs/116xx/doc11674/11-04-Drug_Pricing.pdf

Oops.

ObamaCare and Obama both translate to “one big ass mistake, America.”