Where are those 400,000 jobs? Or the millions that Pelosi said will be coming down the pike? They don't exist. Nor will they. From Mike Brownfield over at The Michigan View: This is gonna hurt
When Speaker Nancy Pelosi (D-CA) made her pitch for Obamacare, she claimed that the bill isn't just about health care, but that it's also about creating new jobs - 400,000 to be exact.
Unfortunately for Pelosi - and for America - it turns out that her claims are flat out wrong, and that Obamacare could kill between 120,000 and 700,000 jobs by 2019.
To get it straight from the horse's mouth, Pelosi said of Obamacare, "In its life it will create 4 million jobs, 400,000 jobs almost immediately. Jobs, again, in the health care industry but in the entrepreneurial world as well."
Pelosi's claims were based on a report by the Center for American Progress (CAP), a liberal Washington, D.C., think tank. It turns out, however, that the numbers CAP relied on to make its prediction are incorrect. A new analysis by the Beacon Hill Institute (BHI) paints quite a different picture.
According to BHI, the CAP study based its claims on the assumption that Obamacare would save $683 billion over ten years, which would create incentives for companies to create new jobs. CAP's assumptions, though, were wrong.You can find the entire report at this link. Since Obama is running a jobs deficit of 6 million (he promised 3.5 million new jobs with the stimulus package by 2010 but has instead lost almost 3 million), can we call this Pelosi's jobs deficit? She promised 4 million jobs with ObamaCare, 400,000 which we were supposed to see by now that did not materialize at all, and 4 million in the future while this report says 700,000 will be killed. That's almost a 5 million jobs deficit. That is like in Obama league. She must be so proud.
Meanwhile. we're seeing the results of ObamaCare: WE'RE BEING LIED TO! First Quarter GDP revised down to 0.4% from 1.9% And more specific with respect to ObamaCare (Report: Private sector job creation ground to a halt almost instantly after Obamacare passed), from The Heritage Foundation:
As the Heritage report explains, Obamacare discourages hiring in three important ways:Who could have seen this coming? I'll tell you who - me. From a prior post of mine from October 2010: Anyone notice that the economy flatlined the minute after ObamaCare was signed into law? My graphic from back then:Democrats once touted that Obamacare would create jobs, but the data underscore the reality that that’s not true for the private sector. The only jobs Obamacare created were within the new agencies and layers of bureaucracy the law added to the federal government.
- Businesses with fewer than 50 workers have a strong incentive to maintain this size, which allows them to avoid the mandate to provide government-approved health coverage or face a penalty;
- Businesses with more than 50 workers will see their costs for health coverage rise—they must purchase more expensive government-approved insurance or pay a penalty; and
- Employers face considerable uncertainty about what constitutes qualifying health coverage and what it will cost. They also do not know what the health care market or their health care costs will look like in four years. This makes planning for the future difficult.
I claim, based on the US Department of Labor data that ObamaCare is likely the causal factor for causing the stagnation that we have now. And just wait until the inflation kicks in from the overspending, borrowing and printing of money by this regime. It'll make the stagflation of the Carter era seem like Utopia. Obama is focused only on his liberal agenda, not on jobs