Barack Obama, Jobs Killer

By:  Chip Wood
02/24/2014
       
Barack Obama, Jobs Killer

What’s the single most important issue facing the country today? According to a recent Gallup poll, a majority of Americans says it’s jobs. We need more of them. Millions more.

But thanks to the policies of Barack Obama, we’re not getting them. In fact, just the opposite is true. Recent reports from the Congressional Budget Office reveal how two of the President’s pet programs will cost this country millions of jobs. They make very grim reading for anyone concerned about the employment picture in America.

The first report dealt with the impact of Obamacare. The CBO estimates that as the Affordable Care Act becomes fully implemented, some two million Americans will either leave the workforce or substantially reduce the number of hours they work.

The reason is simple: They won’t want to lose the subsidies for their health insurance. But that’s what will happen as their earnings increase, either because they work more hours or get a higher-paying job. The Obamacare insurance subsidies are gradually reduced as a person’s income rises. In other words, as the CBO report puts it, Obamacare is really “an implicit tax on additional earnings.”

The White House immediately put its own enthusiastic spin on the CBO’s projected job loss. Believe it or not, it said this was really good news, because it meant that many people would finally have the freedom to stay home with their children or maybe start their own businesses.

Yep, the Obama Administration said we should all be happy about the loss of two million jobs, because it meant that “Individuals will be empowered to make choices about their own lives and livelihoods and have the opportunity to pursue their dreams.”

Sure thing. That “dream” no doubt helps explain why nearly 50 million Americans have signed up to collect food stamps. Welcome to the Obama version of the American dream, which is rapidly becoming the American nightmare for those of us who have to pay the taxes to keep the shell game going.

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