Will the Incentive to Work Decline Under Obamacare?

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Feb. 5 (Bloomberg) -- Bloomberg Television's "Lunch Money" Host Adam Johnson looks at the effects of Obamacare on GDP. (Source: Bloomberg)

Band to pre-record everything.

The vocals were sung live.

The nation came out with its latest report on the new health care law known as obamacare.

Unfortunately for democrats, it is not pretty.

The report says that the new health care law will cause americans to work fewer hours, enough to be the equivalent of 2 million fewer jobs in 2017, also impacting gdp.

Our more detailed analysis of the effects of the affordable care act on the incentive of being in the labor force, working hours, it reduces our estimate of gdp over the second half of the 10 year window.

It is one of a large number of factors that have led to our downward revision on gdp.

Republicans wasted no time touting big government and small employment.

You are saying that because of government policies, as the welfare state expands, the incentive to work the kleins?

No matter how you calculate this number or how the administration tries to explain it away, it is about 2.5 times as big as the anticipated number was when this was look at the first time.

I wonder what the cost- benefit ratio is to all of this disruption for the providers of health care and consumers of health care when, at the end of the day, the best you could be able to estimate is we have reduced the number of unemployed from 45 million to 3 million, but at what cost?

For all the media who shot across the headlines this idea that somehow the affordable care act was going to hurt jobs?

I just want to be very clear that the director of the congressional budget office says that for this year and the next couple of years, it will help to reduce unemployment.

Curious.

In theory, obamacare will allow people to choose to work less because they can get health insurance regardless.

I have no doubt that, if for example, we got rid of social security and medicare, many 95- year-olds would choose to work more to avoid, potentially, starving or to give themselves an opportunity to get health care.

I do not think that anyone would

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