Last week, at AFP’s Georgia Stands Against ObamaCare Rally, I emphatically said that according to the Congressional Budget Office ObamaCare will mean a loss of over 2 million jobs by 2021! Perhaps, I should have said that according to the CBO, ObamaCare will mean a loss of over 2 million jobs by 2017, rising to 2.1 million by 2021 and to 2.5 by 2024…on an equivocal basis of fewer working hours wherein the actual numbers may be horrible but marginally less horrible than they would otherwise be because the numbers I cited in the CBO report represent the aggregate of lost work hours which is equivalent to the above job loss totals for a regular full time job. The Atlanta Journal Constitution pointed out AFP’s “Half Truth” in their Politifact article on Monday, February 24th, citing The Washington Post’s Fact Checker:
“(W)e should note that the figures (2 million, etc.) are shorthand for full-time equivalent workers — a combination of two conclusions: fewer people looking for work and some people choosing to work fewer hours. The CBO added those two things and produced a hard number, but it actually does not mean 2 million fewer workers,” it reported.
You can read the full AJC article HERE.
To the paper’s credit, they did point out, “We debated long and hard about this one. Americans for Prosperity Georgia did capture the general theme of what the CBO tried to say about the impact of the health care law on employment. It will result in fewer people working fewer hours. But its terminology was not entirely accurate.” The AJC is simply trying to grapple with how to put into context the nightmare which is ObamaCare, a nightmare millions of Americans are waking up to in anger every single day.
At the end of the day, the AJC said they believe that the “jobs” verses “equivalent to jobs” is an important distinction. As I travel Georgia and reflect on the number of employers who will eventually be forced to cut full timers to part-time hours or employees who will choose to work fewer hours to simply avoid losing their ObamaCare subsidy that they desperately need in order to mitigate the skyrocketing premium costs of their new health insurance policy, I am struck by the real world impact that this income loss will reflect on an individual level. When a family’s cost of living goes up because of rising ObamaCare health insurance premiums in tandem with a paycheck reduction due to fewer hours at work, that’s real pain. I doubt they will be saying, “thank you God, I still have a job!” Academic discussions about equivalent job loss verses actual job loss will feel more like a re-arrangement of the deck chairs on the Titanic. And an important distinction will quickly be realized as a distinction without a difference.