Recently, the Congressional Budget Office adjusted its estimates on the impact of the Affordable Care Act on jobs and the economy. In its report, the CBO projected the loss of 2 million full-time equivalent jobs by 2017, directly attributable to the ACA. This is triple its previous projection. By 2024, that number is expected to grow to 2.5 million full-time equivalent jobs.
In the same report, the CBO revised its GDP growth estimate over the next 10 years downward by nearly one percent. This is significant because the purported "budget neutral" impact of Obamacare was based on the previous higher figures.
In response, White House Spokesperson Jay Carney called the loss of full-time work an "opportunity" for those with reduced work hours to "pursue their dreams."
Fewer full-time workers contributing to the economy and tax base. Small companies opting not to expand. More people receiving taxpayer-funded subsidies, with a smaller tax base to pay for them.
Exactly how is this "opportunity"?
And yet all too many in the media are quick to join in on the spin. Sadly, all too many Americans who will be hurt the most by this are buying into it as well.
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