Now, the MSM is getting in on it. I don't care whether it's layoffs or laziness, this isn't a good thing. I know I've mentioned seeing this happen in the past. If a person can get more "free stuff" by not working, that's what they choose. And, our government is making it so appealing...and who picks up the tab? Why, those who actually work and pay taxes.
http://www.cbsnews.com/news/why-obamacares-job-losses-are-so-scary/In a preview of the 2014 midterm battle over the Affordable Care Act, political partisans are locking horns after the Congressional Budget Office released new data showing the economy could lose the equivalent of 2 million full-time workers over the next three years and 2.5 million by 2024 thanks to the new law.
To be clear, the report does not say that the economy will generate many fewer jobs over the next decade because of the new health law. The CBO notes that the drop "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." In short, people will work fewer hours.
Republicans used the findings to claim that Obamacare is making things worse for the middle class. Democrats, for their part, focused on a concept called "job lock" and how Obamacare, in the words of Representative Chris Van Hollen, D-Md., "allows Americans to choose to spend more time with their family or pursue their dreams. And that is not a bad thing; it's a good thing."
The deeper problem, the one that isn't being discussed, is how this threatens to deepen an emerging long-term problem of increased social dependency, a diminished workforce, and a lower potential growth rate for the economy. If it continues, it would lead to higher susceptibility to damaging inflation, higher interest rates and a looming fiscal crunch as the cost to service the nation's debt grows.
CBO Director Doug Elmendorf, in testimony to Congress, said that the law "creates a disincentive for people to work relative to what would have been the case in the absence of the act." At the same time, Elmendorf also told lawmakers this week that Obamacare will reduce unemployment.
Already, based on the work of Gluskin Sheff economist David Rosenberg, there is evidence that much of the recent drop in the labor participation rate down to 1970s-levels is being driven by the availability -- and the potential abuse -- of welfare programs that disincentivize work.
In 2013, the economy created 1.4 million jobs, but 2.9 million people dropped out of the workforce. As a result, 92 million Americans are now outside the confines of the job market. That's more than 37 percent of the population, up from less than 33 percent during the dot-com bubble.
According to Rosenberg's calculations, if the labor participation rate had remained constant the unemployment rate would instead now be near 10 percent.
In his words, "we may have an abundance of separate benefits programs that provide for the disenfranchised in a very piecemeal and inefficient manner that are also perhaps abused or overly relied upon by some, which may lead to a distortion of work incentives."