This is fabulous news from the Bureau of Labor Statistics: Another 90,000 left the workforce last month and they are all now free to pursue their dreams.
ObamaCare (The Affordable Care Act or ACA) is largely responsible for this glorious turn of events.
There was really good news from the CBO this week. They reported that the ACA will be responsible for the loss of about 2.5 million jobs over the next ten years because it disincentivizes workers. People don’t need to work a lot to have healthcare and consequently, they will work the minimal hours.
Democrats are using the portability option to try and turn this negative into a positive but it’s a stretch to say the least. Portability is nice but it was never a serious problem.
Working fewer hours is a real positive we are told.
The New York Times is leading the charge, lauding the more than tripling in the reduction of workforce participation (thanks to ObamaCare’s unintended consequences) as “liberating.”
Jay Carney insisted that because of ObamaCare “individuals will be empowered to make choices about their own lives and livelihoods,” and that they “would have the opportunity to pursue their dreams.”
On the same topic, Harry Reid bellowed that the CBO report “rightfully says, that people shouldn’t have job lock. If they–we live in a country where there should be free agency. People can do what they want,” he told reporters.
We are well on our way! It’s none too soon either because the economy only created 115,000 jobs last month for the second dismal month in a row. The unemployment rate went down to 6.6% but that’s because of the people leaving the workforce.
In seriousness, 115,000 is about half of the jobs we need to keep pace with population growth. This is a jobless recovery which is helping the top 1%.
The Feds have cut back on the endless bailout – from $85 billion to $65 billion a month. What does that tell you about the economy? Nothing good.