Does Obamacare Discourage Workers?

REPLAY VIDEO
Your next video will start in
Pause
  • Info

  • Comments

  • VIDEO TEXT

Feb. 11 (Bloomberg) –- A. Gary Shilling & Co. President and Bloomberg View Columnist Gary Shilling discusses the Affordable Care Act and its impact on jobs with Trish Regan and Alix Steel on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Obamacare a job killer?

You could argue it that way, but they did go on to say that they thought that people who were dropping out because they thought that they could get medicare, medicaid, or were somehow through our obamacare not going to have to work as hard, they went on to say that those jobs would probably be absorbed by other people as long as there was unemployment is high.

It is not as though you will reduce economic growth.

Technically some of those people may not be working, but you know, people game the system entirely.

We just had the unemployment benefits run out and guess what?

Last month we had not reported employment jumping up.

Some of those people do not want to work at mcdonald's or wendy's and said -- if i do not have the -- if they do not have the benefits, i will.

Incredibly encouraging.

The study that came out saying that a number of people would leave the workforce because they were able to get health care from the government, from obamacare, as opposed to having to work in that mcdonald's type job, whatever it might be, that they might not want, just for health care.

What it does, and mike mckee might be able to add some numbers to this, but it basically freeze up our whole lot more people, gary.

The idea that now that young person that maybe needs that job coming out of school has an opportunity because someone older is not just doing the job for the sake of health care.

That is true.

Although a lot of those people working there do not work there long enough to qualify for medical benefits.

That is one of the problems, there is such tremendous turnover in those jobs that a lot of those people do not get medical benefits and they do not work 30 hours per work -- per week.

Forget wendy's, forget mcdonald's, but let's talk about entry jobs that younger people might want that someone older is doing.

I don't know.

If you talk to a lot of people -- like in construction, most of those people working there are younger and they think they are going to live forever and a lot of them do not have medical insurance and would not via if it were offered to them.

I think you will find that a lot of younger people, they do not look at things the way you and i might.

They think they are going to live forever.

I think we are talking about different things, though.

Peter, you may be able to add to this idea that you are freeing up more opportunity in the overall employment market.

You are and you are not, but is it a lot of people?

Janet yellen, even in the

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change