The TRUTH About CBO Report and the ACA


            Welcome back My Dear Readers to The Other Shoe. Just yesterday headlines of many web based ‘news’ and media outlets blasted the ‘Affordable Care Act’ (aka Obamacare) as a job killer. These creative writers posted that “Obamacare will cost 3 million jobs…”. However, if anyone would have taken the time to read the CBO report, they would have found out the truth was something else indeed. Below is a quote from the Los Angeles Times February 4th, 2014:

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        “The Congressional Budget Office is out with its latest report on the Affordable Care Act, and here are a few bottom lines:

— The ACA is cheaper than it expected.

— It will “markedly increase” the number of Americans with health insurance.

—     The risk-adjustment provisions, which Congressional Republicans want to overturn as a “bailout” of the insurance industry, will actually turn a profit to the U.S. Treasury.” [1]

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Quite a different story than what you read from yesterday’s headlines, eh?  Here is the material, from the Labor Department report on the Affordable Care Act:

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    “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,…”[2]

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Now what was cleverly left out was this:

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    “almost entirely because workers will choose to supply less labor…”[3]

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Here is another frightening excerpt from the Labor Department report, IF read in a complete vacuum of information, that is;

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    “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.”[4]

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Frightening until you read the rest of the paragraph;

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    “The estimated reduction stems almost entirely

from a net decline in the amount of labor that workers

choose to supply, rather than from a net drop in businesses’

demand for labor, so it will appear almost entirely

as a reduction in labor force participation and in hours

worked relative to what would have occurred otherwise”[5] .

See how just a few words left out can completely change the meaning of a quote? This (for me) exposes the real and disingenuous nature of reporting by certain media outlets. Now, if you are one of My Dear Readers that are Republicans, then (most likely) you heard some of the media coverage and read some of the headlines lambasting the affordable Care Act because it will “Cut jobs”. Now you can clearly see that you were deprived of the truth, from your source and instead fed disingenuous misquotes proffered for your consumption. It is a clear example of the propaganda that is being fed to you, that is disingenuous and wrongheaded.

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IF you will only vote Republican IF you are fed falsehoods and disingenuous misquotes… then are your really voting from a knowledgeable place and of your own free will? I think not.

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Further the C.B.O. report does address (head on) the “demand for labor” as it is related to the Affordable Care Act. The answer is not what you have been lead to believe!

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    “As for labor demand, the CBO estimates that on balance, the ACA will increase aggregate demand for goods and services, in part by relieving lower-income people of the burden of health insurance or healthcare expenses, so they can increase their spending on other things. In turn, that will “boost demand for labor,” especially in the near term,…”[6]

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SO one can clearly read that the Affordable Care Act will actually increase “the aggregate demand for goods and services” meaning it will help expand our economy at the time of a sluggish recovery. This is ‘Good News’ for all Americans, and represents a complete reversal from the disingenuous ‘news’ as it was reported by some (less than honest) ‘news’ sources just yesterday. I even had a very good friend of mine (James Coate) call me yesterday, questioning the information that was being shared, via the airwaves, down in Texas.

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I, at the time, was unable to address his concerns when he called. I was still recovering from my journey on Tuesday and had not dug into the ‘news’ versus reality. Obviously, I have managed to dig into this ‘news’ and found that the sources have been gravely disingenuous. Further, I have to remind you, My Dear Readers, to never take anything proffered as ‘the truth” as your own, until YOU have taken the time to research the validity and truthfulness of statements and assertions.

.

You see, you run the risk of extending yourself as a ‘reliable source of news’, only to have (someone like me) do the research and prove that the initial claims are gravely disingenuous and false. Take heed of my words or warning. Be like my good friend, James Coate, and if you do not have the time or resources to dig into what you are hearing? Call an intelligent and reliable friend and get their input. James did well to call me and ask if what he was hearing was true.

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Today, I have notified James that this article is being published and that his questions are answered. I hope that I have been of service to James, as I cannot tell you the number of times I have been able to eat… only because of his assistance and generosity.

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Finally, I would like to close with something out of the report that (so far as I have read) has not been reported, much at all, in the media.

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    “The ACA will increase the number of Americans with health insurance by 13 million this year, 20 million next year, and 25 million each year from then through 2024. Some 80% of those enrollees will be receiving federal subsidies to keep their coverage affordable.”[7]

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That is why the Affordable Care Act was written into law, to increase the number of Americans with  health insurance. Stripping away all of the secondary and tertiary results of the legislation, the Affordable Care act will result in more Americans with health insurance. That will increase the happiness index of our nation. That will increase the overall health of our nation. That will result in a healthier and happier nation, for all.

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As always I am deeply honored that you come here and read my work.

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Thank YOU!

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The Other Shoe's Daniel Hanning

The Other Shoe’s Daniel Hanning


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About Daniel Hanning
I am a; writer, editor and publisher. I write, most often, articles about our space program, fun videos andpolitical works. My most recent additions are; A Week In Review, Sunday Funnies and The Adventures of Nadia. Along with The Mars Report and Lost in Space. ENJOY!

One Response to The TRUTH About CBO Report and the ACA

  1. Pingback: A Week in Review – February 8th, 2014 | The Other Shoe

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