The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Wednesday, February 5, 2014

CBO Director, Doug Elmendorf, Corrects ACA Derangement Lies! Which Media and Writers Will follow?

The newly released Congressional Budget Office Report (Labor Market Effects Breakout) includes  verbiage posted in the table below (Think Progress):
(In reference to GOP and Fox News raised libidos about 2.3 million labor force reductions over through 2024. There are many links in the following post. The links are included for sake of providing perspective how the poli/'social Right and media hounds have taken a CBO report and turned it into a political weapon while firing "blanks." The Fox New link, Mediaite afternoon link and the NPR link respectivley provide the range of derangement to accurate information we seek as the central theme of this post.)
Think Progress 
".....reduction in labor “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” and that “there is no compelling evidence that part-time employment has increased as a result of ACA.”
Why are so many overlooking clear and delineating statements? We are not surprised the GOP and Fox News have pounced on a moving lion; we are amazed supposed progressive writers are reaping article readings with catchy headlines. What we have is pure undiluted right-wing "fright" and media derangement.

Choose your fright. 
The social and political right has taken a Congressional Budget Office (CBO) report with good news about the US economy through 2024, grabbed a headline ready segment and popularized the segment as reader bait, and developed a campaign of Anti-ACA garbage. In fact, you will find just below a short list of suggested 'baiters', that will show as real baiters in a bit. It would be unfair to list media as baiters without recognition of the need for certain outlets to rush to press as a inherent as an industry norm. Fortunately, for high information people, other media research, deeper scrutiny and reports delivered after deeper scrutiny, the true story surfaces. One example below stands-out like a sore thumb of report in the morning and "Retract" re-report in the afternoon.

We offer listing of Netflix (tm) like horror movies. Choose your preference or should I say, choose your fright. Remember there are many more, this is a small representative gallery.

I offer an unqualified view of the ObamaCare portion of the CBO Report, before more qualified and detailed reporting (or screeds). It appears the CBO report indicates over the course of a ten year period (a full decade) proliferation and evolution of ObamaCare will result in economic and family-life relief to and lower middle income and poor families. 

How is that possible?

Families working multiple low paying jobs, and families work jobs for sake of medical coverage, will be able to seek other means of medical coverage via the ACA. The CBO report does not report a loss of 2.3 million jobs due to employers reducing their employment census to provide a positive Profit and Loss experience.

Let's see if we can provide information that actually explains the CBO reporting and excludes GOP fear-mongering and politicking. Hasn't the GOP previously shown great disdain for any CBO reports regarding the ACA, since before the law was enacted? 

Mediaite reported on Washington Post Fact Checker. What a difference over a period of four hours: ( 3:44 pm, 2.4.2013).

WaPo Fact Checker: ‘No, CBO Did Not Say Obamacare Will Kill 2 Million Jobs’ by Matt Wilstein | 3:44 pm, February 4th, 2014

Conservative critics of the Affordable Care Act have immediately and fervently latched onto one line from the Congressional Budget Office’s new 182-page report regarding the economic impact of Obamacare: “The reduction in 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.” But what exactly does that mean?

Washington Post fact checker Glenn Kessler has given “Three Pinocchios” to anyone claiming that means Obamacare will “kill” 2.5 million jobs over the next 10 years, as numerous commentators and writers have done so far Tuesday.

He points to the tweet below from the NRCC, but there have also been numerous others from Republican lawmakers:
Non-partisan CBO report admits is hurting the economy, will cost 2.5 millions jobs. 
Obamacare will cost "the nation about 2.5 million jobs" - CBO
Obamacare will cost our nation about 2.5 million jobs and increase the deficit by $1 trillion.

The crux of the issue lies in the reason for the reduction in worker hours, estimated to be “about 1.5 percent to 2.0 percent during the period from 2017 to 2024.” It is not, as some have suggested, because employers will stop hiring full-time workers, but because those workers will voluntarily decide to work slightly less. Essentially, it’s an issue of supply rather than demand.

Kessler explains:
First, this is not about jobs. It’s about workers — and the choices they make.
The CBO’s estimate is mostly the result of an analysis of the impact of the law on the supply of labor. That means how many people choose to participate in the work force. In other words, the nonpartisan agency is examining whether the law increases or decreases incentives for people to work.
Because health care subsidies decrease as people earn more income, some may choose to work less in order to gain more. That is not the same as the government “killing” jobs. Or, as Kessler puts it in his conclusion:

Some might believe that the overall impact of the health law on employment is bad because it would be encouraging people — some 2.3 million – not to work. Indeed, the decline in the workforce participation rate has been of concern to economists, as the baby boom generation leaves the work force, and the health care law appears to exacerbate that trend.
Moreover, the argument could go, this would hurt the nation’s budget because 2.3 million fewer people will pay taxes on their earnings. That’s certainly an intellectually solid argument — though others might counter that universal health care is worth a reduction in overall employment — but it’s not at all the same as saying these jobs would be lost.
Once again, we award Three Pinocchios to anyone who deliberately gets this wrong.
Obamacare’s critics can claim that the equivalent of 2.5 million less full time workers in the system is bad for the economy, and many will make that argument. But Kessler and others laid out how saying that the CBO claims Obamacare will “kill,” “cut,” or generally eliminate jobs from the market over the next 10 years is patently false.
[photo via screengrab]
Now, if you need to know more, pick your flavor from sources that score much higher on the 'veracity' scale.

We will close with a a link to the most credible news source in America: NPR....."More Access To Health Care Means Millions Can Quit Or Cut Hours."

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