The White House is trying to spin the CBO report finding that Obamacare will result in about 2 million Americans leaving the labor market is good news. They say it means more “choice” for people, you know, they can choose to work less or not work at all and take government handouts instead.
“This is a choice on the part of workers,” Jason Furman, the chairman of the President’s Council of Economic Advisers, told reporters at the White House on Tuesday.
According to Furman, the CBO reported “that workers will choose (to) supply less labor.” It’s not that businesses are cutting jobs, he insisted. It’s that workers will choose to work less, or not at all. (This puts a greater burden on full-time workers, whose taxes subsidize those who choose to work less.)
“So to some degree this might be somebody who used to work 60 hours because they needed health insurance, and that was the only job that offered it, and now they can get a different job at 35 hours that doesn’t offer health insurance, but they’re getting it through this (Obamacare exchanges) and they’re switching from one to the other, and that’s a better choice for that person, and this has given them that option that they didn’t used to have,” Furman said.
What about the workers who are paying for all of this? Another study found that 80% of Americans are going to see a decline in earnings thanks to this law. I suppose some of them are the ones benefiting from the subsidies but everyone else is stuck paying more and having less money to spend on other things.
Oh and Obama and the Democrats already have the media helping them spin this. Of course.