Wednesday, February 5, 2014

I Just Don't Get It

So we return to potential GDP by ~2016, yet here is Eric Cantor with the Big Lie:

"House Majority Leader Eric Cantor falsely claims that a new report confirms the long-held Republican belief that “millions of hardworking Americans will lose their jobs,” because of the Affordable Care Act. The nonpartisan Congressional Budget Office report says more than 2 million people will decide not to work, or will decide to work less, due to the law – not that they will “lose their jobs.”

 "In fact, the CBO report says in the short term (2014 to 2016) the law will increase employment while the economy is still weak."

CBO, Feb. 4: [T]he ACA’s subsidies for health insurance will both stimulate demand for health care services and allow low-income households to redirect some of the funds that they would have spent on that care toward the purchase of other goods and services — thereby increasing overall demand. That increase in overall demand while the economy remains somewhat weak will induce some employers to hire more workers or to increase the hours of current employees during that period.
We can only hope that Eric Cantor is one of those "hardworking Americans" who will lose their job.

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