We dodged a weather bullet last night.
Winter Storm Nikka passed by last night leaving freezing rain, ice and snow to our north. However, even as the temperature this morning was 31.5 F, the rain is a least mostly liquid. No ice on the roads or walkways. We have a little ice on some trees and bushes, but not enough to make them pretty.
The big news in Obamacare Schadenfreude today, of course, is that yesterday the "totally non-biased" Congressional Budget Office released a report that says that Obamacare will will reduce jobs by the equivalent of about 2.5 million full time jobs.
Failure Is Not a Public-Relations Problem: The Brutal Economics of ObamaCare
The Congressional Budget Office report about the economic impact of ObamaCare is out, and it paints an ugly picture. The Hill:
The new healthcare law will slow economic growth over the next decade, costing the nation about 2.5 million jobs and contributing to a $1 trillion increase in projected deficits, the Congressional Budget Office said in a report released Tuesday.
The Washington Post:
The Affordable Care Act will reduce the number of full-time workers by more than 2 million in coming years, congressional budget analysts said Tuesday in the most detailed analysis of the law’s impact on jobs.
ObamaCare is a disaster in pretty much exactly the same ways that Republican opponents of the bill predicted four years ago, although it’s also been a disaster in ways that even its harshest opponents did not predict. The problem for Obama, Democrats and their media allies is that they have treated the failure of ObamaCare as a matter of public-relations, as if the reality of failure could be concealed by a P.R. blitz claiming that it was actually a success.
Despite claims from Obamacare critics about the law's potential effects on hiring, CBO said the expected drop in work hours between 2017 and 2024 would result largely from worker decisions not to participate in the labor force, rather than from higher unemployment or the inability of part-time workers to find full-time hours.
Whodda thunk, pay people to do nothing, and that's what they do!
Of course, such predictions are done by economic modelers (all models are wrong, some models are useful) and should be regarded as predictions written on a stormy beach at low tide.
Faced with a truckload of lemons,
Democrats tried to make a truckload of yellow fluid out the news:
In a statement and conference call featuring top administration officials, the White House tried to beat back an emerging narrative that the CBO report supported claims made by health care reform critics. The CBO report says the Affordable Care Act could lead to a reduction of 2 million full-time workers between 2017 and 2024. The CBO says the reduction would not come via fewer available full-time jobs (as critics of the law have alleged) but “almost entirely from a net decline in the amount of labor that workers choose to supply.”…
“To put that in context, I have no doubt that if we eliminated Social Security and eliminated Medicare, there would be many 95-year-olds that would choose to work more hours than they’re working today just so they could survive, feed themselves and have health insurance,” the official said.
The CBO’s projected reduction in full-time workers, then, “shouldn’t be a significant cause for surprise and it reflects the fact that workers have a new set of options and are making the best choices that they can choose to make for themselves given those options,” the official said.
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