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Obamacare To Crush Workforce By 2.5 Million Workers In Next Decade, CBO Admits

Tyler Durden's picture




 

When the "impartial" Congressional Budget Office first attempted to predict the impact on the US labor force as a result of the administration healthcare ponzi scheme, also known affectionately as Obamacare and less affectionately by other names, it estimated that 800,000 Americans would drop out of the labor force by 2021. Moments ago it just revised that projection, admitting that it was off by the usual 100% or so: the hit to the US labor force due to Obamacare is now estimated to soar to 2.3 million through 2021, and furthermore the CBO just admitted that the enrollment rate will be dramatically below the White House's baseline estimates, with 2 million fewer people signing up this year than previously estimated.

In brief, as the CBO admits (before it is forced to adversely reduce the numbers once more) the law will lead to 2 million fewer workers in 2017, 2.3 million in 2021 and 2.5 million through 2024. This represents a 1.5% to 2.0% reduction in the numbers of hours worked. As the WSJ recalls, CBO last year projected 7 million people would enroll for health insurance through health care exchanges in 2014, but Tuesday it said technical problems that plagued the program's rollout forced it to lower its estimate by 1 million people.

"Those changes primarily reflect the significant technical problems that have been encountered in the initial phases of implementing the [law]," the CBO said. It said it couldn't yet revise estimates for future years. CBO also projected 8 million new people would qualify for Medicaid and other expanded coverage this year, down from a 2013 estimate of 9 million people.

The health care law's open enrollment process began in October and runs through March, and CBO estimated "the number of [people who sign up [for coverage] will increase sharply toward the end of the period." Or not.

And here it is straight from the horse's mouth:

The ACA’s largest impact on labor markets will probably occur after 2016, once its major provisions have taken full effect and overall economic output nears its maximum sustainable level. CBO estimates that the ACA will reduce the total number of hours worked, on net, by about 1.5 percent to 2.0 percent during the period from 2017 to 2024, almost entirely because workers will choose to supply less labor—given the new taxes and other incentives they will face and the financial benefits some will receive.

What does that mean?It means this: "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 that period." Just don't call it a welfare program.

The above in numbers:

The reduction in CBO’s projections of hours worked represents a decline in the number of full-time-equivalent workers of about 2.0 million in 2017, rising to about 2.5  million in 2024. Although CBO projects that total employment (and compensation) will increase over the coming decade, that increase will be smaller than it would have been in the absence of the ACA.

...

The number of people who will receive exchange subsidies—and who thus will face an implicit tax from the phaseout of those subsidies that discourages them from working—will be smaller initially than it will be in later years. The number of enrollees (workers and their dependents) purchasing their own coverage through the exchanges is projected to rise from about 6 million in 2014 to about 25 million in 2017 and later years, and most of those enrollees will receive subsidies. Although the number of people who will be eligible for exchange subsidies is similar from year to year, workers who are eligible but do not enroll may either be unaware of their eligibility or be unaffected by it and thus are unlikely to change their supply of labor in response to the availability of those subsidies.

The CBO's mea culpa:

CBO’s estimate that the ACA will reduce aggregate labor compensation in the economy by about 1 percent over the 2017–2024 period—compared with what would have occurred in the absence of the act—is substantially larger than the estimate the agency issued in August 2010. At that time, CBO estimated that, once it was fully implemented, the ACA would reduce the use of labor by about one-half of a percent. That measure of labor use was calculated in dollar terms, representing the change in aggregate labor compensation that would result. Thus it can be compared with the reduction in aggregate compensation that CBO now estimates to result from the act (rather than with the projected decline in the number of hours worked).

 

CBO’s updated estimate of the decrease in hours worked translates to a reduction in full-time-equivalent employment of about 2.0 million in 2017, rising to about 2.5 million in 2024, compared with what would have occurred in the absence of the ACA. Previously, the agency estimated that if the ACA did not affect the average number of hours worked per employed person, it would reduce household employment in 2021 by about 800,000.25 By way of comparison, CBO’s current estimate for 2021 is a reduction in full-time-equivalent employment of about 2.3 million.

If you like your horrible 2010 forecast, you can keep your horrible 2010 forecast.

As for the most recent one, which too will be the source of comedy in one year's time, here it is (link).

 

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Tue, 02/04/2014 - 12:33 | 4400360 InjectTheVenom
InjectTheVenom's picture

FORWARD !!

Tue, 02/04/2014 - 12:41 | 4400406 HoofHearted
HoofHearted's picture

Why do I hear an eternally reapeating "D'oh!" when I think of Obamacare?

Tue, 02/04/2014 - 12:42 | 4400414 AlaricBalth
AlaricBalth's picture

No worries. By 2021 the labor force participation should be about 42% with an unemployment rate of 2.7%. Those not in the labor force will top out at 130,000,000 and food stamp participation will be around 62,000,000. Full nanny state will be in force with plenty of time for leasure activities.

Tue, 02/04/2014 - 12:44 | 4400425 Global Hunter
Global Hunter's picture

Federal camp for some of those who have dropped out of the labour force perhaps?

Tue, 02/04/2014 - 12:50 | 4400449 Debt Slave
Debt Slave's picture

Hey it worked for Stalin...

Tue, 02/04/2014 - 13:04 | 4400498 kralizec
kralizec's picture

Yeah, what a joke.  If they said 2.5m they really mean 25m when all is said and done...plenty to exploit in labor camps...and if one dies, what difference does it make.

Forward, Amerika!

Tue, 02/04/2014 - 13:50 | 4400657 HyBrasilian
HyBrasilian's picture

FOARWard ~ There, Fixed it

Tue, 02/04/2014 - 14:03 | 4400704 GetZeeGold
GetZeeGold's picture

 

 

Even less jobs will be available when we get amnesty.....hot dog!

Tue, 02/04/2014 - 16:28 | 4401327 Stackers
Stackers's picture

You have to pass the law to find out whats in it.

 

Like playing pinata with a nest of killer bees

Tue, 02/04/2014 - 18:47 | 4401856 EscapingProgress
EscapingProgress's picture

The purpose of Obamacare is to kill people.

Tue, 02/04/2014 - 14:15 | 4400756 ebworthen
ebworthen's picture

It was designed to fail.

Tue, 02/04/2014 - 15:31 | 4401055 redpill
redpill's picture

Yep it too thoroughly fucks us to be an accident.

Tue, 02/04/2014 - 12:51 | 4400451 Dangertime
Dangertime's picture

Looks like employment rates will drop at the same rate as the white population percentage of the country.  Things that make you go hmmmm

Tue, 02/04/2014 - 13:38 | 4400627 Son of Loki
Son of Loki's picture

The traditional Middle Class American had a steady job with a decent paycheck and spent that money on crap he saw on the propganda ads on TV.

However, as the traditional Middle Class had disappeared, it's been replaced by extremely frugal foreigners who don't give a hoot about the new soap or deodorant and so on on TV.

Consumer spending will continue to plunge from what I read. Fewer people to spend as well as lower wages and a flood of immigrants flowin gin.

This is one reason why retail has a bleak future.

jmho

Tue, 02/04/2014 - 17:54 | 4401689 aVileRat
aVileRat's picture

Yup.

Remember that as middle class Americans develop savings pools, 1 in 10 will become a capital class either in retirement by investing those pools into yielding securities and/or starting their own ventures. Disrupt the middle class, and the ability for migrants to become growth innovators will drop to zero. Something the Obama economic council is grossly overlooking in the forecasts of AHA's net effect.

That number is going to get closer to 8mm workers as unions & labour increase their wage (and inflation) expectations.

 

Tue, 02/04/2014 - 17:25 | 4401602 Tsunami Wave
Tsunami Wave's picture

hmmmmmmmmmmmmm...

Tue, 02/04/2014 - 13:22 | 4400579 chubbar
chubbar's picture

Here's a Doctor that's had too much of the Obamacare Fiasco.

"The following letter to Aetna from Dr. Held has been reprinted in full.

Dear Mr. Bertolini,

With a deep sense of sadness, I must inform you that I will no longer serve as a physician for Aetna patients under the terms of our contractual agreement, which you most recently unilaterally changed.

I have been privileged and honored to care for thousands of patients covered by Aetna policies since the 1990’s. I have devoted my life to providing the very best, state-of-the-art care to these individuals. We have formed a patient-doctor relationship, which I hope many will chose to continue in spite of my severing ties with Aetna. You see, health insurance has evolved such that insurers and government have inserted themselves smack-dab in the middle of the once sacred patient-doctor relationship. I am called a provider- not a doctor. My patient is now yours- not mine. What I can do as a physician now has strangulating strings and nonsensical numbers attached- to you and government and money-not the best interests of the patients.

Obamacare, the “law of the land”, contains ever-changing-at-the-whim-of-HHS, politically-expedient mandates, rewards, penalties, rules and regulations with which I cannot rationally or morally treat my patients and run a practice, much-less interpret, implement, or comply.

Millions of Americans have lost coverage because of the healthcare law and must now shop on a defective, insecure government website and sign up for more expensive policies through Federal and State exchanges. Only by logging in as a prospective patient did my office manager and I discover that Aetna was selling plans for which I am a provider-effectively selling my services without even asking, much less informing  me that my services would be sold on such a site, under the auspices of new terms with which I will not comply.

Then, after the fact, I received a form letter informing me of Aetna’s “new allowables”. I will not sell my services under such terms. While treated as such, patients and doctors are not commodities worthy of such impersonal, inconsiderate, and cavalier treatment. We choose dignity and personal service over disrespect and form letters.

So here we are, you are getting new business offering health insurance plans featuring my services without my consent under terms which are unacceptable to me. Accept this as my official written notice that the changes that you have unilaterally made to our contract are unacceptable to me and make our contract null and void.  You must explain this to your patients. You must tell them that they have purchased a product that was misrepresented to them and that you cannot deliver. It saddens me to think of the decreased access to care from actual physicians and the shockingly increased costs Aetna patients will now experience because of your choice to collude with big government rather than collaborate with patients and physicians.

Kristin S. Held, MD"

Tue, 02/04/2014 - 13:58 | 4400664 Lux Fiat
Lux Fiat's picture

http://www.youtube.com/watch?v=3ejbC7K0RpU

Sad, but certainly understandable.  I wonder how many doctors are doing the same thing.  Fed Gov't should not be in the healthcare or welfare business.  Some claim that only 30% of "welfare" spending actually goes to recipients (of which who knows how much is squandered or fraudulent).  Give ACA a few more years, and I'm sure the overhead will be become even larger than it already is - both on the giving and receiving end.  http://libertariananswers.com/is-private-charity-more-efficient-than-government-welfare/

Tue, 02/04/2014 - 13:59 | 4400698 Occams_Chainsaw
Occams_Chainsaw's picture

Smokin hot doc to boot....

Tue, 02/04/2014 - 14:14 | 4400744 ebworthen
ebworthen's picture

Damn, you ain't kiddin', and I missed my chance for a hernia check (*cough*).

Tue, 02/04/2014 - 16:15 | 4401243 AlaricBalth
AlaricBalth's picture

Doc Held is an ophthalmologist. Am making an appointment in San Antonio to go see her.

"Hi Doc. I have something in my eye. It's your image of beauty and I can't get it out."

How's that for a corny pick up line???

(Already down arrowing myself)

http://cdn.freedomoutpost.com/wpcontent/uploads/2014/02/kristin_story_he...

Tue, 02/04/2014 - 16:13 | 4401245 AlaricBalth
AlaricBalth's picture

Dupe. My bad.

Tue, 02/04/2014 - 14:12 | 4400745 Blano
Blano's picture

Amen to that.

Tue, 02/04/2014 - 14:27 | 4400812 Son of Loki
Son of Loki's picture
RadioShack to Close About 500 Stores Within Months

 

http://online.wsj.com/news/articles/SB1000142405270230344270457936287083...

Tue, 02/04/2014 - 15:43 | 4401108 FlipSide
FlipSide's picture

That was bound to happen anyway with or without obamacare. It's not the parts store it use to be but merely a glorified cell phone store.

Tue, 02/04/2014 - 15:45 | 4401119 Montgomery Burns
Montgomery Burns's picture

Reply to Dr. Held from Aetna. " Its ok, we have docs from India,Pakistan,China, Russia, etc, lined up waiting to practice in the US. Good luck trying to get people to pay you in cash what you think you're worth."

Tue, 02/04/2014 - 12:54 | 4400467 Stoploss
Stoploss's picture

Barrycare is the closer. It's what finally brings the country down in the end, via an end run around domestic jobs.

It's over, but no one wants to admit it yet.

Look around, it's open season on the job creators, not to mention crackers..

 

 

Tue, 02/04/2014 - 14:01 | 4400703 Occams_Chainsaw
Occams_Chainsaw's picture

You forgot step 2....grant amnesty....then we are every version of toast you can think of.

Tue, 02/04/2014 - 14:59 | 4400940 donsluck
donsluck's picture

"Job creators" who only shipped them overseas. By "crackers" I assume you mean white (fucking racist), and further assume that they are being shot (!?!?). If you were clearer, one could engage you. As it stands, you have said NOTHING.

Tue, 02/04/2014 - 18:50 | 4401854 EscapingProgress
EscapingProgress's picture

Needless to say, I don't believe them.

Tue, 02/04/2014 - 13:54 | 4400668 Canadian Dirtlump
Canadian Dirtlump's picture

It's a scary thought, but I think more and more that Obamabortioncare is working out precisely and exactly as planned. They could not have not known that mandating all the coverages would make costs soar, and doing the 30 hour work week would make employers start cutting with chainsaws - and all the rest of it.

 

It is remarkable at the seeming attention to detail that they did make in fucking up so comprehensively. That is why it can't be an accident.

Tue, 02/04/2014 - 12:45 | 4400436 FuzzyDunlop21
FuzzyDunlop21's picture

If you like your job, you can . . . go fuck yourself

Tue, 02/04/2014 - 12:54 | 4400459 AlaricBalth
AlaricBalth's picture

At least touch screen kiosks don't need health care. Imagine the savings!!!!

http://benefitrevolution.blogspot.com/2013/06/carls-jr-ceo-obamacare-mea...

Tue, 02/04/2014 - 14:19 | 4400748 Pure Evil
Pure Evil's picture

Well, lets be honest. It was heading in this direction anyway within the next 5 to 10 years. Obamacare has just speeded up some aspects of kiosk mechinization.

Since a large majority of the population knows how to use iPhones and apps how long before people start demanding the ability to interact with a kiosk instead of an 8th grade education high school graduate, with an attitude and chip on their shoulder to boot.

And worst yet, seeing how the country is being invaded by hordes of 3rd worlders that move into ethnic enclaves and refuse to learn English once they get here. If you think I'm full of shiite then why do states with large hispanic populations need ESL classes? (English as a Second Language).

Are you going to want to give your order to someone that can barely speak or understand English. Think of all the fun you have when you speak with Hindu's in India trying to get technical support.

I work in the technical industry and see this all the time. I see people coming over from asia that I can barely understand much less hold a cogent conversation with. But, if I say anything then I'm considered intolerant and a racist.

I just received official government documents from Medicare and they came with instructions for six different languages. The Federal government is enabling people to avoid assimilating into the Native American culture.

Tue, 02/04/2014 - 14:50 | 4400901 Son of Loki
Son of Loki's picture

"Urdu spoken here."

Tue, 02/04/2014 - 15:46 | 4401124 Offthebeach
Offthebeach's picture

"...press 6. If you want to hear English, press 7....."

Tue, 02/04/2014 - 19:54 | 4402046 Bad Attitude
Bad Attitude's picture

If you think I'm full of shiite then why do states with large hispanic populations need ESL classes?

What ESL classes? I live in one of those states with a large hispanic population. I'm experiencing more Spanish speakers, more Spanish language advertizing, more evidence of Mexican gang activity. I feel like a foreigner in my own land.

Tue, 02/04/2014 - 20:26 | 4402122 kareninca
kareninca's picture

What I see is that the ESL classes are for people who come here as adults.  My mom volunteers as a tutor to a guy from Puerto Rico; he has been here for decades and is in his 60s and has always wanted to speak better English.  He is typical in the program she volunteers for.  The young Hispanic people who were born here or who came here as kids, speak perfectly good English.  At least in Silicon Valley, I don't see the enclave thing; I just see parents who want their kids to speak good English so they can get ahead.  I don't think you could keep young people from learning English unless you forced them; they want to be familiar with popular culture, which is in English.

I volunteered at one point teaching Cambodian ladies English.  They were stuck at home for various reasons, and had come here as adults, and they spoke almost no English (but they desperately wanted to learn).  Their kids spoke like regular Americans.

I do agree that trying to communicate with someone in an call center in India can be impossible.

Tue, 02/04/2014 - 18:27 | 4401794 KnightTakesKing
KnightTakesKing's picture

And on the flip-side, in a few years you won't be seeing a Medical Doctor but a RN if you're luckly. Otherwise, some Chinese made robot programmed by some dumb fuck in India making $2/hr will be your new ObamaCare doctor.

Welcome to 21st Century American Healthcare.

Tue, 02/04/2014 - 14:13 | 4400754 Blues Traveler
Blues Traveler's picture

Great comment Fuzzy, wish  that was a bumper sticker

Tue, 02/04/2014 - 12:47 | 4400443 Jumbotron
Jumbotron's picture

Collapse guaranteed by 2020.  Just look at trendlines in total federal debt, Medicaid and Medicare and Social Security funds ( I know....they're empty now....but even the computers will start calling bullshit by 2020)....declines in not only the easy oil fields, but the Shale oil plays will be shown to be flash in the pans which means higher energy prices to fuel the magical lifestyle.....and now this data.  Moar of everything bad that drags an economy down......but that economy was going down regardless due to techenology, robots and global wage arbitrage ( otherwise known as the New Wage Slave Trade).

It could all certainly break earlier as brittleness in anything, from metals to economies, can never be truly predicted.  You just know it's inevitable.  But all the data lines for all the above and more prove to me that by 2020 and certainly beyond.....the jig is up and the Great Reset will be common knowledge.  The only question becomes is how will the Powers That Be destroy the world trying to keep their Utopian dreams from melting like ice cubes in hell?

Tue, 02/04/2014 - 13:02 | 4400496 El Vaquero
El Vaquero's picture

One can only hope that it collapses so fast that the assholes don't get a chance to destroy everything.  Life is going to be tough enough without having to worry about whether or not what you are eating has fallout in it, assuming you survive the MRVs. 

Tue, 02/04/2014 - 14:32 | 4400829 whatthecurtains
whatthecurtains's picture

Lean forward.... and bend over.

Tue, 02/04/2014 - 12:34 | 4400368 Debt Slave
Debt Slave's picture

Don't worry. The doctors that drop out of the current medical system will be replaced by quality people who attended the University of the Congo.

Tue, 02/04/2014 - 12:38 | 4400386 Global Hunter
Global Hunter's picture

is that in Chicago?

Tue, 02/04/2014 - 12:40 | 4400403 Debt Slave
Debt Slave's picture

The Congo, Chicongo, same difference.

Tue, 02/04/2014 - 12:54 | 4400470 knukles
knukles's picture

That's just wrong.
But funny.

 

And likely not too far from the truth

Tue, 02/04/2014 - 14:18 | 4400775 Blano
Blano's picture

As soon as I stop laughing, I'm stealing that.

Tue, 02/04/2014 - 12:42 | 4400415 nuclearsquid
nuclearsquid's picture

yes

Tue, 02/04/2014 - 12:37 | 4400387 pods
pods's picture

I better start brushing up on my 3rd world disease symptoms.

pods

Tue, 02/04/2014 - 12:48 | 4400447 BandGap
BandGap's picture

Don't worry, there will be free seminars hosted by The University of Phoenix.

Tue, 02/04/2014 - 14:57 | 4400926 Son of Loki
Son of Loki's picture

Now where am I going to get time to go to moar seminars?

My schedule is already booked with those free house flipping seminars, Duck Dynasty episodes, Twitter updates on Kim K., and standing in lines for the latest iCrap and Air Jordan sneakers.

Tue, 02/04/2014 - 12:39 | 4400397 Azannoth
Azannoth's picture

.. don't be surprised if your Doctor instead of a scalpel will wield a Machete, will have a brightly coloured Face, a Parrot feather hat and will want to sprinkle you with chicken blood before "operating" on you.

Tue, 02/04/2014 - 13:01 | 4400494 czarangelus
czarangelus's picture

and will probably still do a better job than some AMA quack.

Tue, 02/04/2014 - 12:41 | 4400404 ifishivote
ifishivote's picture

Hopefully they will accept Bananas as payment. Is that comment politically incorrect? FU

Tue, 02/04/2014 - 12:55 | 4400442 FuzzyDunlop21
FuzzyDunlop21's picture

I believe you give them the banana, but they recommend you keep the banana peel because it can be used as a condom. Banana peels: the Obama-condom, coming to a bedroom near you!

Tue, 02/04/2014 - 12:41 | 4400408 nantucket
nantucket's picture

are you implying, Sir, that the Congolese medical university/training/education/internship system is not on par with the US or Europe? how dare you speak the truth.  enjoy your IRS audit this year.

Tue, 02/04/2014 - 12:49 | 4400438 Debt Slave
Debt Slave's picture

Gosh no, I'm just a little annoyed that I have to bring my own interpreter to an office visit.

Tue, 02/04/2014 - 13:11 | 4400524 Spungo
Spungo's picture

So bongo, bongo, bongo, I don't wanna leave the Congo, oh no no no no no

Tue, 02/04/2014 - 17:14 | 4401537 Abiotic Oil
Abiotic Oil's picture

Whether your doc got A's or D-'s in school, they still get the MD after their name.

Tue, 02/04/2014 - 12:34 | 4400369 papaswamp
papaswamp's picture

I encourage everyone to read the report...it is pretty ugly all the way around.

http://cbo.gov/sites/default/files/cbofiles/attachments/45010-Outlook201...

"Debt held by the public increased by more than $700 billion in 2013, reaching 72 percent of GDP, higher than the percentage in 2012 (70 percent) or in any other year since 1950. As recently as 2007, it had been only 35 percent of GDP. Under the assumptions that govern CBO’s baseline, the federal government is projected to borrow another $9.3 trillion from 2014 through 2024, pushing debt held by the public up to 79 percent of GDP by the end of the projection period."

Tue, 02/04/2014 - 13:11 | 4400529 Lux Fiat
Lux Fiat's picture

CBO/the Fed govt is still reporting revenue and outlays under a "unified" budget approach.  The supposed surpluses in the 1990s were the result of this accounting trick - Social Security expenses are part of outlays, SS "revenues" are part of overall revenues.  While the boomers were working and contributing more than was being paid out, it served to mask the true extent of the annual deficit.  Now that the reverse is occurring, and about to accelerate, the deficits are going to balloon massively without significant "entitlement" cuts.  For all intents and purposes, the SS "trust fund" was nothing but a big cookie jar.

Add to that the hedonic adjustments to GDP, which comprise about one third of current GDP, and the impact of underreporting CPI vs. actual (makes GDP growth and overall value look bigger than it really), there are far fewer horses pulling the wagon than what is publicly claimed, and a steep pass is ahead.  Paging Dr. Donner...

Tue, 02/04/2014 - 14:18 | 4400771 shovelhead
shovelhead's picture

Dr. Donner isn't in...

He's having a friend for lunch.

Tue, 02/04/2014 - 15:10 | 4400989 Lux Fiat
Lux Fiat's picture

Time for a hearing aid for Dr. D?  Code blue, cordon bleu - so similar.

Tue, 02/04/2014 - 15:05 | 4400970 Nick Jihad
Nick Jihad's picture

Doesn't this whole 'debt held by the public dodge' assume that debt owed to SS isn't really debt?  Because Social Security does not have any debts to 'the public'?  And does that also exclude debt held by the Federal Reserve?

Tue, 02/04/2014 - 15:53 | 4401157 Lux Fiat
Lux Fiat's picture

A dodge -that's exactly what it is, aka "unfunded obligations", 'cause they've already spent the trust funds.

Can't speak to FedRes debt, except that I think a lot of Americans will find themselves on the Reservation when interest rates (or inflation) go up.  And I've always wondered who's on the other side of all of those interest rate derivatives that JPM, BAC, etc. are sitting on.  Whose collateral will be whose, if US Treasuries tank?  Especially since depositors' money is now collateral.

Tue, 02/04/2014 - 13:08 | 4400370 666
666's picture

Well, gee, who woulda guessed?

Tue, 02/04/2014 - 12:36 | 4400372 onewayticket2
onewayticket2's picture

thank an obama voter....

Tue, 02/04/2014 - 12:45 | 4400430 superflex
superflex's picture

No, punch an Obama voter square in the mouth.

Tue, 02/04/2014 - 14:35 | 4400843 Meat Hammer
Meat Hammer's picture

And as they're lying there clutching a broken jaw, lean down and whisper, "Obamacare covers that".

Tue, 02/04/2014 - 13:07 | 4400516 El Vaquero
El Vaquero's picture

Think it would have been much different had Mitt won?  Or McCain before him?  Or Kerry before him?  Or gore before him? Or...

 

We are systemically fucked, and all politicians are going to make decisions with a short term outlook.  Oh, there may have been differences, i.e. even more war and less on social programs, but the end results will be the same.  Obama is a dirty lying cocksucker, but I just don't see any politician that can make things better and I certainly see none that are willing to say "You know, it's been a good run, but if we want to survive as a nation, we're all going to have to change our way of life."  No such politician would get elected. 

Tue, 02/04/2014 - 13:11 | 4400527 papaswamp
papaswamp's picture

proper fucked?

Tue, 02/04/2014 - 13:12 | 4400532 El Vaquero
El Vaquero's picture

Pooper fucked. 

Tue, 02/04/2014 - 13:53 | 4400672 onewayticket2
onewayticket2's picture

EV,

Look at the current Immigration fight.  the Republican party is taking the Democrat position against the tea party.  they view the Tea Party as a bigger impediment to their power than democrats. 

the political spectrum - to your point? - has changed.....it's now DC establishment vs everyone else.

Tue, 02/04/2014 - 14:29 | 4400814 El Vaquero
El Vaquero's picture

I have little faith that the TEA Party has not been co opted.  Ted Cruz's wife is a squid bankstress.  Think he's going to do anything to jeopardize her job?  I sure don't. 

Tue, 02/04/2014 - 15:56 | 4401165 Offthebeach
Offthebeach's picture

Obama, Romney, Cruz, Hitlery....all are just political consumer brands. Just like GM had Chevrolet for Blue Collar, Pontiac for single professionals, Buick and Olds for small business and Cadillac for wealthy but in truth shared most same parts and were one company.

Republicans/Democrats are just boob bait brand badges . A product.

Tue, 02/04/2014 - 14:23 | 4400790 Blano
Blano's picture

In the long run, no.  In the short run, maybe.

Tue, 02/04/2014 - 12:37 | 4400374 eric89074
eric89074's picture

No biggie we just need to figure out how to get 2.5 million to drop out of the work force.

Tue, 02/04/2014 - 12:43 | 4400417 BandGap
BandGap's picture

They have figured it out. Uh, they will still get heavily subsidized health care. The report states that they are demotivated to work because of the ACA tax burden, but they will still receive the benefitz of the ACA.

Bend over, baby.

Tue, 02/04/2014 - 12:37 | 4400376 max2205
max2205's picture

And once you do sign up...you have to die to get something else....don't even look at the site is my advise

Tue, 02/04/2014 - 12:37 | 4400377 pods
pods's picture

This is going to be a fun few years.

I am really glad that the bankers have our backs. Can't wait for all their charity.

We are fast sinking below the waterline.
Where the hell is that Don't Worry, Be Happy clip?

pods 

Tue, 02/04/2014 - 12:51 | 4400456 BandGap
BandGap's picture

Speaking of clips I just zeroed out the Glock and S&W. Why is that an impulse when I read shit like this?

Tue, 02/04/2014 - 13:20 | 4400574 Lux Fiat
Lux Fiat's picture

"I am really glad that the bankers have our backs."

Yes, in a Silence of the Lambs sort of way.

Tue, 02/04/2014 - 12:39 | 4400379 Everybodys All ...
Everybodys All American's picture

Obama is a fraud and to prove it Obamacare is his signature legislation achievement.

Tue, 02/04/2014 - 18:36 | 4401821 Golden Showers
Golden Showers's picture

I have to differ here: I thought socialized medicine was the First Lady's agenda. What is Barry's signature, um, _executive_ achievement? It's not Barrycare, it... it is, naturally, Obamaphone. Everyone knows that. However, the American Corporaton CEO is both leader and first lady. There lies the ambiguity. This is the 21st century so we have to re-define the terms. Now, Barry is special. He gets to intervene when it's our turn to smoke pot. But it's illegal for us to do so. Like, don't you get it?

In the past, (I'm quoting history) if an American thought that a law was frivolous, s/he simply ignored it, or worked against it. Ok? Let me give you an example: Amerika would never have NASCAR if it wasn't for bootleggers pimping their whips to beat john law's policia vehicle in prohibition times. Got that?

Now, the 21st century wo/men just hope and pray the fuhrer will acknoledge their complicity. This is conditioned behaviour. But remember, just for a second, the Corporate US president is not your leader. You are your leader. You are your own leader. And as a free human being you can choose to give your power away to a first lady agenda if your pussy hurts.

Far as I'm concerned, you can lick it up. That's what "y'all the people" want. Obviously.

Since you can't, don't want to, or won't take care of yourselves, your children and your parents, FUCK YOU. You get OBAMACARE. FUCK YOU AND LIKE IT.

Tue, 02/04/2014 - 12:35 | 4400380 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

All done by design....might as well enjoy being poor, at least you can watch re-runs of Gilligan's Island if you can afford cable.

Tue, 02/04/2014 - 12:43 | 4400410 Hongcha
Hongcha's picture

Agreed Yid; and a good book is often cheaper than a caffe latte.  If you made it to ZH you probably have enough mental acumen to gain a great deal of contemplative satisfaction from books, walks in the woods, the occasional hashish honey cake.  There is not that much needed.  This conclusion does not reduce my personal contempt for the current administration of this country, but makes it more bearable.  I would be a lunatic to think I am going to suffer unduly  the implosion of this Roman Empire.  I'll take a raincheck on that, thank you.

Most of our troubles are like sand fleas - electronic, governmental - .gov.  Myself, I sincerely fear Fukushima and the Pakistan/Indian nukes, not much else.

Tue, 02/04/2014 - 12:52 | 4400458 pods
pods's picture

Excellent point.  Took the family and new puppy out for a hike on Sunday scouting some new gold prospecting lands.  Something about being out in the middle of nowhere really clears your head.  Let's you see what is real, versus what is illusionary.  Most of our lives are in fact an illusion. A special one which we craft to actually avoid life.  A little fantasy is okay, but trying to stuff oneself into the matrix is not my idea of happiness.

As for sand fleas, why we dig those up, slap them on a hook, and bring in some tasty Pompano.

pods

Tue, 02/04/2014 - 13:14 | 4400545 Emergency Ward
Emergency Ward's picture

Rep Nancy Pelosi claims that Unemployment plus PelosiCare will make people turn into painters, playwrites and sculptors.

Tue, 02/04/2014 - 13:23 | 4400584 pods
pods's picture

I'll take your word for it, life is too short to listen to any of their claptrap.

pods

Tue, 02/04/2014 - 13:30 | 4400605 Winston Churchill
Winston Churchill's picture

Like Adolph , you mean ?

Tue, 02/04/2014 - 18:58 | 4401883 Golden Showers
Golden Showers's picture

Go wax your snatch.

Tue, 02/04/2014 - 18:54 | 4401872 Golden Showers
Golden Showers's picture

You know what I like? It's reading Veblen's Theory of the Leisure Class, specifically where, in the intro, he mentions that, if you're smart enough to read his book, you don't need references.

Also he had a thing for seducing his faculty buddies wives. Didn't make himself popular. But he helped found the New School and Parsons. Spoiler: Academia is the most wasteful, conspicuously consumptive, bullshit entity since the Catholic Church.

You are an escapist twat. I don't feel sorry for you. I live here too. My advice is to drop out of college, shut up, and get a job at the coffee house.

On break you can impress people with your smack face zh corporate sell out jargon and put on a frown face.

Better yet, go join the Marines, GI Jane.

Tue, 02/04/2014 - 18:59 | 4401885 Golden Showers
Golden Showers's picture

Oops, Veblen came out of Chicago. Like the first lady. Oh, but Ministry...

Tue, 02/04/2014 - 12:42 | 4400420 Debt Slave
Debt Slave's picture

Yeah but something tells me that WWF is going to be more popular.

Tue, 02/04/2014 - 12:49 | 4400444 Alpo for Granny
Alpo for Granny's picture

I heard that Fema Camps will have free wifi.

Which is nice.

Tue, 02/04/2014 - 19:02 | 4401888 Golden Showers
Golden Showers's picture

Yeah, so you can post up with your mommy finger.

Tue, 02/04/2014 - 12:36 | 4400382 Hongcha
Hongcha's picture

Still lying; doling out the lies incrementally so as not to roil the MSM.  I look forward with interest to see how people feel after their tax returns are submitted.  I personally continue to like the idea of submitting returns in the mail.  I get the feeling they want everyone putting everything online.  Data conveyance is their greatest strength and their Achilles Heel.

Tue, 02/04/2014 - 19:06 | 4401901 Golden Showers
Golden Showers's picture

Yes, you are still lying on your back gettin submitted and getting the feeling.

Go read the Illiad and shut up.

Tue, 02/04/2014 - 12:40 | 4400388 Colonel Klink
Colonel Klink's picture

OMFG, who coulda noed or seen it coming?  Except for those crazy conspiracy theory bloggers.

/sarc

Tue, 02/04/2014 - 12:38 | 4400389 Dr. Engali
Dr. Engali's picture

2.5 million in the next decade? It's done that much damage already.

Tue, 02/04/2014 - 12:40 | 4400398 Colonel Klink
Colonel Klink's picture

Ding!  Because the CBO is STILL lying!!!

Tue, 02/04/2014 - 12:39 | 4400392 Global Hunter
Global Hunter's picture

The mainstream media will ignore this report and tell its viewers and readers instead to just "don't worry be happy".

Tue, 02/04/2014 - 12:44 | 4400435 GolfHatesMe
GolfHatesMe's picture

Keep Calm and Carry On

Tue, 02/04/2014 - 14:38 | 4400848 thecoloredsky
thecoloredsky's picture

As put so eloquently by another ZH'er... keep calm and slave on

 

Tue, 02/04/2014 - 12:39 | 4400399 Seasmoke
Seasmoke's picture

Hopefully they will all be public taking employees ....

And if not, how the fuck do they expect to continue to receive higher salaries and benefits than the private sector who is supposed to pay the tax bills.....are the fucking insane !!

Tue, 02/04/2014 - 12:42 | 4400412 youngman
youngman's picture

And this will be revised again...and again...and again....to the downside....of couse noone will lose their jobs over this...its just politics....that cost lives...

Tue, 02/04/2014 - 12:40 | 4400413 ArkansasAngie
ArkansasAngie's picture

This kind of gross incompetance has to be stopped.

 

Tue, 02/04/2014 - 12:47 | 4400431 Colonel Klink
Colonel Klink's picture

Good luck with that because the other two branches of Goobermint are already coopted by the same powers that Obama has been blowing since he stepped into his Kingship.

And every CONgress critter is too chickenshit to start the impeachment process.  Mark my words though, if the Repubicants take the Senate, they will start impeachment as it finally stands a chance to pass.  Note:  I'm not a red/blue team believer but it's currently the only system we have.

Tue, 02/04/2014 - 14:25 | 4400802 Blano
Blano's picture

Only if you knock off the old RINO's in the Senate, like McConnell for example.  Otherwise, itaintgonnahappen.

Tue, 02/04/2014 - 14:37 | 4400842 El Vaquero
El Vaquero's picture

If it happens, and it could happen, it won't be because the Republicans are good and virtuous.  It'll be because congress does not want to know what torches and pitchforks feel like when used as anal probes.  And it'll likely be accompanied by lots and lots of political theater for the sheep. 

Tue, 02/04/2014 - 12:54 | 4400466 Ignatius
Ignatius's picture

"incompetance" ?

Corruption.  Cartel/crony capitalism.  Fascism.

Tue, 02/04/2014 - 14:54 | 4400923 Meat Hammer
Meat Hammer's picture

Exactly!  Like ebworthen says above, it's all by design and it's working perfectly according to plan.

Tue, 02/04/2014 - 12:45 | 4400429 Everybodys All ...
Everybodys All American's picture

To top it all off the CBO is about as impartial as the IRS is toward the Tea Party and even they now admit the law is going to harm employment. This we all knew before hand and was the major reason why the majority of Americans were dead set against it and remain so today.

Tue, 02/04/2014 - 12:54 | 4400464 Seasmoke
Seasmoke's picture

I thought they were against paying much higher premiums . Much higher deductible .. for much lower services...

 

 

Tue, 02/04/2014 - 12:48 | 4400439 Spungo
Spungo's picture

Probability of repealing any of the millions of job killing rules: 0

Tue, 02/04/2014 - 12:51 | 4400452 Lux Fiat
Lux Fiat's picture

"...the ACA will reduce the total number of hours worked, on net, by about 1.5 percent to 2.0 percent during the period from 2017 to 2024, almost entirely because workers will choose to supply less labor..."

Really?  Workers will choose to supply less labor???  I'm sure it has nothing to do with businesses left and right, especially in the service industry, reducing hours to get below the threshhold for benefits, forcing people who were previously full-time into part-time positions.  And I'm sure this trend will continue, and potentially spread into other sectors.

At a time when real organic growth and broader employment might have given some additional time and space for dealing with the US fiscal kaka (doubtful it would have been put to good use given what has transpired over the last several years), the best this gov't can do is deliver more body blows to the real economy.  Way to go! /sarc

Tue, 02/04/2014 - 12:52 | 4400465 esum
esum's picture

fundamentally change America into AMERIKA

and the wealthy muthafukers who supported this pos

will have their wealth confiscated to pay for the free shit brigade

just lining them up for the big takedown... like jews who supported hitler... although soros fared well 

 

 

 

Tue, 02/04/2014 - 12:56 | 4400469 Spastica Rex
Spastica Rex's picture

Slaves never had Obamacare. Can you imagine them sitting around on their asses and choosing not to work? No, me neither.

Tue, 02/04/2014 - 12:58 | 4400476 Critical Path
Critical Path's picture

Last week it was minimum wage talk, this week we're reminded of the impact of "Affordable" Care Act.  All the more reason labor will be automated.

Tue, 02/04/2014 - 12:58 | 4400486 yogibear
yogibear's picture

The masses are being told by Wall  Street and DC pushing illegal amnesty will take care of everything.

Flooding the US job market with 30 million illegals and their families they get to bring over should take care of this (sarc).

Tue, 02/04/2014 - 13:01 | 4400488 Debt Slave
Debt Slave's picture

Yeah but think about all the jobs they will create and improve the economy!

Tue, 02/04/2014 - 13:04 | 4400503 yogibear
yogibear's picture

Exactly what MSNBC and CNN says.

Yeah, job musical chairs. And all the additional Social security disability payments, welfare and freebies (Free education, section 8's).

 

 

 

Tue, 02/04/2014 - 13:02 | 4400497 rlouis
rlouis's picture

I love how Yahoo frames it:

"Obamacare will lead to 2 million fewer workers in labor force by 2017"

They might have said "2 million serfs laid off due to cost of Obamacare."

Tue, 02/04/2014 - 15:33 | 4401059 El Vaquero
El Vaquero's picture

Or "2 million fewer workers due to deaths resulting from a lack of medical care."

Tue, 02/04/2014 - 13:08 | 4400521 Last of the Mid...
Last of the Middle Class's picture

Ultimately, the goal here is to require so much cash flow just to exist that you have to use medicaid to pay your medical expenses or just do without. This kicks in the "death tax" so the government gets all your shit at the end of your life. Gives the governement with it's infinate wisdom a constant source of assets to redistribute, not to mention is the very definition of middle class destruction. Insurance companies get free checks, TBTF get free checks, Wally World gets all the medicaid monies at the first of the month. Now if  we can just deal with those pesky right wingers that watch Fox and think their stupid ass should work for a living.

Tue, 02/04/2014 - 13:13 | 4400540 denverdolomte
denverdolomte's picture

Amazing ::

 

http://freebeacon.com/the-belarusian-connection/

 

Obamacare .......... developed by hackers.

Tue, 02/04/2014 - 13:30 | 4400607 Colonel Klink
Colonel Klink's picture

We already knew it was developed by hacks and hackers.

Tue, 02/04/2014 - 15:35 | 4401070 El Vaquero
El Vaquero's picture

Or, rather, we already knew it was an insecure, non-function POS government-crony boondoggle.  We just didn't (don't) know the full extent of how bad it really is.

Tue, 02/04/2014 - 13:17 | 4400548 Loose Caboose
Loose Caboose's picture

This be the final nail in the coffin.  RIP America.

Tue, 02/04/2014 - 13:16 | 4400554 ejmoosa
ejmoosa's picture

Rest assured knowing that this is a static estimate from the CBO based only on losses seen so far.  These do not include the dynamic loss of jobs that are yet to come.

 

So the damage is going to be worse.

 

Much worse.

Tue, 02/04/2014 - 13:19 | 4400567 QQQBall
QQQBall's picture

In addition to Seasonal Adjustments, they will simply ACA-adjust the data points

Tue, 02/04/2014 - 13:20 | 4400568 pashley1411
pashley1411's picture

More job losses, fewer beneficiaries, higher costs.   All so that the Dem's could socialize a chunk of the economy.

Subject to (downward) revision.  

Our political class at work.

Tue, 02/04/2014 - 13:34 | 4400619 slightlyskeptical
slightlyskeptical's picture

I hate to attack people but anyone who thinks Obamacare is socialized medicine is a fucking IDIOT and is a big part of the problems we have as a country. Stupid Fucks!

Tue, 02/04/2014 - 14:13 | 4400742 PGR88
PGR88's picture

Its socialized crony-capitalism

Tue, 02/04/2014 - 15:41 | 4401093 El Vaquero
El Vaquero's picture

It's full fucking retardism. 

Tue, 02/04/2014 - 13:32 | 4400613 slightlyskeptical
slightlyskeptical's picture

Let's just move to socialized medicine and get the whole health insurance problem off the employers backs. This would also allow wages to rise significantly allowing workers to pay for it. .

 

Tue, 02/04/2014 - 19:23 | 4401943 Golden Showers
Golden Showers's picture

Hay, douchebag, people were paying for health insurance before "Socialized medicine care". Didn't you just post that it's not "socialized medicine"? Or, are you trying to be ironic?

Because I'm slow, I'll just let you in on something I just found out: But don't tell.

Define "Wages".

Tue, 02/04/2014 - 13:37 | 4400625 Final Authority
Final Authority's picture

A solution, for those who care, is to learn all you can about how to prevent and treat you own medical problems. Lots of possibilites with prevention and even treatment in you diet.  Homeopathy can be a useful tool as well. Also make friends with a couple of docs who will take cash. Competition is good for the soul.

Tue, 02/04/2014 - 13:42 | 4400639 slightlyskeptical
slightlyskeptical's picture

Upvote for personal responsibility. I think any decent care system would recognize the importance of diet and natural resolution to illness.

Tue, 02/04/2014 - 15:06 | 4400964 donsluck
donsluck's picture

And service your own car, fix the furnace, do your taxes, grow your own food, educate your kids, build your house, secure your water sources. Specialization is the path to success, generalization is the path to poverty. How do you prevent the medical effects of Fukushima?

Tue, 02/04/2014 - 15:35 | 4401068 Final Authority
Final Authority's picture

Don't know what others will do to prevent the negative health effects of Fukushima but I will be working extra hard in my own garden for the forseable future. There has been no change in the background radiation at my place. I know, I have checked it myself.

Tue, 02/04/2014 - 13:45 | 4400649 Rising Sun
Rising Sun's picture

Nice fucking job Barry.

 

Now you and your family and your communist shitbag friends can go rot in hell forever.

Tue, 02/04/2014 - 15:06 | 4400969 donsluck
donsluck's picture

Fascist, not Communist.

Tue, 02/04/2014 - 14:00 | 4400702 q99x2
q99x2's picture

Obama be in prison a long time by 2021.

Tue, 02/04/2014 - 19:11 | 4401919 Raging Debate
Raging Debate's picture

I have this funny feeling Obama will be viewed as a liability once he leaves office. That may mean....

In any event best learn to get healthy and use the Internet for better info on how.

Tue, 02/04/2014 - 19:28 | 4401961 Golden Showers
Golden Showers's picture

No. You be in prison long time.

Tue, 02/04/2014 - 14:08 | 4400726 rosiescenario
rosiescenario's picture

Well, the good news and the bad news.....my wife's new Obamacare plan costs $80 less per month that the old plan, but the annual deductible is now $5,000....so long as she does not get sick I am really saving money....of course, if that is the case, why spend anything on health insurance?

Tue, 02/04/2014 - 19:27 | 4401968 Golden Showers
Golden Showers's picture

Good job! You are a model citizen.

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