When the Congressional Budget Office (CBO) released their report giving an updated estimate on the Affordable Care Act (Obamacare) earlier this week; the report revised its initial figures and stated that due to Obamacare the work hours would be reduced to the equivalent of 2 million jobs in 2024.
No, it did not say 2 millions jobs would be lost!
Republicans like fly on shit have jumped all over the “equivalent of 2 million jobs” part, it’s too bad that they completely misread what the CBO was trying to say.
Obamacare offers subsidies to help individuals to pay for health insurance, that along with lower premiums being offered through the exchanges have made insurance more affordable. With insurance being more affordable, people now have options. If you did not have a full-time job that offered you health insurance, paying for insurance on your own was beyond costly.
Now people have options, and this is a good thing. Currently there a large number of baby boomers who are working late into their 60s for healthcare; we have all seen grandma working at McDonald’s and it’s a sad sight.
Some will argue that this will produce a disincentive for people to work as they would not want to lose the subsidies provided by Obamacare. This is a silly assumption, why would anyone turn down the opportunity to work full-time just to keep some subsidies. Hmmmm, more money or stay part-time…… Now it is possible you will have some lazy folks who will try to game the system to get the most out of it without doing much. But here is different way to look at it, on Wednesday Congressional Budget Office director Doug Elmendorf spoke to a House Budget Committee to explain the CBO report.
“There is a critical difference between people who want to work and can’t find a job…and people who choose not to work because because [they’ve] decided to retire, or spend more time with their family, or spend time on a hobby,” Elmendorf said. “They don’t feel bad about it, they feel good about it. We don’t feel bad about it, we say, ‘Congratulations.’”
Let’s say a single mother works and pays for childcare, wouldn’t it be nice if she could save money on childcare if say a family member (mother, or aunt) could afford to retire to help that single mother take care of her child?
There are problems with Obamacare that need to be fixed, but this is not what Republicans are trying to make it. Also, it’s funny how Republicans conveniently leave out the other thing the CBO report stated that there is, “no compelling evidence” to suggest that Obamacare will increase part-time employment over full-time employment.
If there is something to be said, “It’s On Broadway” to step up and say it!!
Sources: Washington Post & Reuters