Posts Tagged ‘House Budget Committee’

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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