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CBO says that Obamacare will reduce employment by 800,000 workers

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The CBO director was being questioned by Republican Congressman John Campbell when he let something interesting come out about Obamacare.

Here’s the video:

And the transcript: (H/T The Weekly Standard)

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.

I noticed that the Blog Prof found of video of Nancy Pelosi promising that Obamacare would CREATE 400,000 jobs. Ooops.

I am sure that some of the 800,000 people who will be losing their jobs because of Obama’s socialist health care plan voted for Obama in 2008. What were those people thinking?

News

Barack Obama offers to cut 775 million from 3,800,000 million budget

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Last Republican budget was in 2007
Last Republican budget was in 2007

From The Hill.

Excerpt:

President Obama’s budget director Jack Lew in a Sunday opinion piece outlined some off the “tough choices” Obama is willing to make to cut spending in his 2012 budget request due out on Feb. 14.

The piece details cuts that affect initiatives dear to the president: programs to help the poor and to clean up the Great Lakes near the president’s home state of Illinois.

The cuts are relatively small, however, in the larger scheme of things. In total, the $775 million in detailed cuts fall far short of demands by congressional Republicans and will do little toward tackling the deficit, which is estimated to be $1.5 trillion this year by the Congressional Budget Office. The cuts are in addition to a five-year spending freeze which the administration says will save $400 billion over the next decade.

[…][Lew] said “this cut is not easy for” Obama.

The 2012 deficit is projected to be 1,500,000 million. TWELVE TIMES what the last Republican budget was back in 2007, when unemployment was at 4.3%. Government spending means taking money away from productive workers and from the businesses that hire those productive workers.

To see a graphical representation of the cuts as a portion of the entire budget, click here. The cuts cannot be seen with the naked eye, so the there are several images in that post, each one more zoomed in than the last.

News

Does dispensing the morning-after pill to teens reduce teen pregnancies?

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From the UK Telegraph.

Excerpt:

A government scheme to give teenagers the morning-after pill free of charge at pharmacies in a bid to cut down on unwanted pregnancies has led to a rise in sexually transmitted diseases, research shows. A study has found that the policy simply encouraged young people to have unprotected sex and had failed to cut down the number of under-age pregnancies.

Professors Sourafel Girma and David Paton of Nottingham University compared areas of England where the scheme was introduced with those where it was not or where it was implemented later. They found that pregnancy rates for girls aged under 16 remained the same while the rates of sexually transmitted diseases increased by 12 per cent in those areas where the pill was available free from chemists. Prof Paton said: “We find that offering the morning-after pill free of charge didn’t have the intended effect of cutting teenage pregnancies but did have the unfortunate side of effect of increasing sexually transmitted infections.

Remember, those pills were bought with taxpayer dollars, and the morning-after-pill can cause abortions in some cases, by preventing a fertilized egg from implanting. But what do you expect, it’s the socialist UK.