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View Full Version : CBO: HC Bill, minus 800,000 jobs...



sack316
10-26-2010, 03:30 PM
The guy makes it sound so insignificant:

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> For the economy outside the health sector, the most significant impact of the legislation will be through the labor marketóbut that impact will probably be small, as we discussed in The Budget and Economic Outlook: An Update, which CBO issued in August. We estimated that the legislation, on net, will reduce the amount of labor used in the economy <u>by roughly half a percent</u>...</div></div>

That's nearly 800,000 jobs. 788,470 to be more precise.

Now, I'm sure it will be pointed out that the article also says:

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">...primarily by reducing the amount that people choose to work. </div></div>

Sounds innocent enough, but that's not how it works. Persons "choosing to not work" are not counted as a loss of "labor used in the economy", because a person choosing not to work would be replaced in that job by a person choosing TO work.

Hence, the only true way for the first quote to be accurate is if there is no need for that position.

In other words, CBO says (as nicely as it can be put) that the health care legislation will shed 800,000 jobs out of the economy.

http://cboblog.cbo.gov/ (Economic Effects of the March Health Legislation
October 22nd, 2010 by Douglas Elmendorf)

Sack

LWW
10-26-2010, 04:22 PM
Don't expect the O-cult to touch this one.

LWW

Sev
10-26-2010, 05:22 PM
OH the Horror!!!!

Meanwhile 60 minutes states that true unemployment is 17%

LWW
10-27-2010, 01:47 AM
They are simply another right wing nut blog infecting US minds with the truth virus, and paid for with alien money from Zeta Reticuli and controlled by Karl Rove.

LWW

sack316
10-27-2010, 09:50 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: LWW</div><div class="ubbcode-body">Don't expect the O-cult to touch this one.

LWW </div></div>

Yeah. Funny, I seem to recall some contention somewhere along the line that it would actually create 800,000 jobs... back when this was first being "sold" to us.

So, assuming I recall halfway correctly, that's a swing of 1.6 million jobs. And people wonder why we tend to question such things when it comes to government figures!

Sack

Deeman3
10-27-2010, 12:51 PM
They don't even pretend it will save anything but a few Democrat's jobs now. The sad fact is it will be the Dems who voted against the bill! /forums/images/%%GRAEMLIN_URL%%/smile.gif

No opposition or laying it on Bush on this one? /forums/images/%%GRAEMLIN_URL%%/smile.gif