By Erik Wasson - 02/06/14 01:38 PM EST
White House ups ObamaCare defense in wake of CBO
Top White House economist Jason FurmanJason FurmanEconomy expands at sluggish 1.1 percent pace Economy adds 255K jobs in July, beating expectations US health spending rises to .2 trillion MORE has a new blog post out detailing six benefits of the health reform law, part of an all-out response by Democrats to a controversial Congressional Budget Office report on ObamaCare from earlier in the week.
Furman argues the finding that there will be 2.5 million fewer full-time equivalent workers by 2024 due to the health reform law is a good thing. Republicans have embraced the findings to say ObamaCare will hurt economic growth, reduce the tax base and increase the “poverty trap.”
Furman says the CBO report in fact shows ObamaCare increases demand for jobs while also increasing the freedom of individuals to choose not to work.
“This week has seen the release of a Congressional Budget Office (CBO) analysis that refuted claims by opponents of the Affordable Care Act (ACA) that it is a 'job killer' and demonstrated that, by giving families more options for obtaining affordable health insurance outside the workplace, the ACA will make it easier for people take a risk and start a business, take time out of the labor force to raise a family, or retire when they are ready,” Furman said.
He notes, accurately, that the CBO never claims its new report is a comprehensive look
As the CBO made clear, however, its analysis was not a comprehensive look at ObamaCare and that it is not changing its earlier view that the law as a whole reduces deficits.
Furman argues that ObamaCare “make[s] it easier for families to access health care services and to meet other pressing needs, which will increase the demand for goods and services throughout the economy at a time when the unemployment rate is still elevated. For this reason, as CBO Director Doug Elmendorf testified, the ACA 'spurs employment and would reduce unemployment over the next few years.' The ACA is thus – today – helping ensure that every American who wants a job can find one.”
The blog post can be found here.