Wednesday, February 05, 2014

Eric Cantor's False Claims Against CBO Report Debunked

If a Republican is talking.........he/she is lying. PERIOD!

House Majority Leader Eric Cantor falsely claims that a new report confirms the long-held Republican belief that “millions of hardworking Americans will lose their jobs,” because of the Affordable Care Act. The nonpartisan Congressional Budget Office report says more than 2 million people will decide not to work, or will decide to work less, due to the law – not that they will “lose their jobs.”

Shortly after the CBO released the report that updated, and nearly tripled, its initial estimate on the reduction in the supply of labor due to the Affordable Care Act, Cantor fired off two messages via Twitter.

Cantor, Feb. 4: The CBO’s latest report confirms what Republicans have been saying for years now.

Under Obamacare, millions of hardworking Americans will lose their jobs and those who keep them will see their hours and wages reduced.

That’s not what the CBO report said. The report estimated a reduction in full-time-equivalent employment of about 2.3 million by 2021. But the drop is “almost entirely” due to a reduction in “the amount of labor that workers choose to supply” (see pages 117-127).

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