Thom Tillis says that Kay Hagan “voted to kill” the equivalent of 2.5 million jobs | PolitiFact

Published October 8, 2014 by wallacedarwin


Why “kill” is the wrong word

The biggest problem with Tillis’ characterization of the CBO’s findings is that he used the word “kill.”

This is inaccurate because it suggests that employers will be making 2.5 million layoffs, or because businesses aren’t going to be creating that many jobs. That’s not what the report said; rather, the reduction will come primarily from voluntary choices by workers, not by employers.

The CBO figured that, when presented with new options for purchasing health insurance outside their job, millions of people would decide they don’t need to work as much.

The report estimated that Obamacare would “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, almost entirely because workers will choose to supply less labor — given the new taxes and other incentives they will face and the financial benefits some will receive.” This would equal a “decline in the number of full-time-equivalent workers of about 2 million in 2017, rising to about 2.5 million in 2024,” itcontinued.

These changes, CBO said, would not result in “an increase in unemployment (that is, more workers seeking but not finding jobs) or underemployment (such as part-time workers who would prefer to work more hours per week).”



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