CBO: 30 Million Uninsured Under ObamaCare: So What Was The Point?

Posted by Brian

So after all of the promises and all of the demonization of the opponents of ObamaCare, it turns out that  30 MILLION will still be uninsured?  What about EVERYBODY will have access to "affordable" insurance? So, under Obama's brilliant plan 30 million people will slip through the cracks?
Don't forget, this plan is going to add trillions of dollars to the already bloated debt. And now that Obama has virtually opened the doors of the United States to any and all comers with his amnesty order, I'm thinking the CBO is probably low-balling this 30 million number.

Obama. ObamaCare. Obamamnesty. Obamageddon. This is what "fundamental change" looks like.

And remember: He said he's "just getting started"!

CBO: Obamacare Will Leave 30 Million Uninsured 
By Patrick Burke August 8, 2012

(CNSNews.com) -- A new Congressional Budget Office (CBO) report says that under the Affordable Care Act, a.k.a. Obamacare, 30 million non-elderly Americans will remain without health insurance in 2022.

One of the main arguments the Obama administration made for passing the Affordable Care Act was that it would provide coverage for the uninsured.

Currently, accoriding to CBO, there are 53 million uninsured persons in the United States, including uninsured illegal aliens. The CBO estimates that in 2022--8 years after the Affordable Care Act has been fully implemented--30 million people will remain uninsured.

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• Nancy Pelosi: 'ObamaCare Tax is Needed Because of All You Uninsured Free Loaders' (sfcmac.wordpress.com)
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Whitewash! Administration Celebrates 8.3% Unemployment While 1.2 MILLION Fall Out of Labor Force In One Month

Posted by Brian
The media campaign to reelect Barack Obama has begun in earnest. While touting a new unemployment rate of 8.3%, the media fail to report, if they are even interested in reporting the truth, that to get to that number the Bureau of Labor Statistics had to eliminate 1.2 million people from the labor pool. It also completely ignores a CBO report released just 4 days ago that the real unemployment rate is 10%.

The civilian labor force fell to a 30 year low of 63.7%, but the Bureau of Labor Statistics is looking to eliminate nearly 50% of the available pool from the calculation. This is nothing but a mathematics trick to make it appear that the economy is improving by simply making the available labor force appear smaller.

We can expect more of these kind of shenanigans from the Obama administration, as well as fawning treatment from a sympathetic media and other friends of Obama in the bowels of government.

Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low

A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us:

Read More at Zero Hedge:

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CBO: Real Unemployment Rate is 10%, NOT 8.7% As Reported!

Posted by Brian

Latest Congressional Budget Outlook For 2012-2022 Released, Says Real Unemployment Rate Is 10%

Submitted by Tyler Durden on 01/31/2012 10:30 -0500

U6 Unemployment Graph

What do the NAR, Consumer Confidence and CBO forecasts have in common? If you said, "they are all completely worthless" you are absolutely correct. Alas, the market needs to "trade" off numbers, which is why the just released CBO numbers apparently are important... And the fact that the CBO predicted negative $2.5 trillion in net debt by 2011 back in 2011 is largely ignored. Anyway, here are some of the highlights.

• 2012 Deficit: $1.1 trillion; 2013 Deficit: $0.6 - yes, we are cackling like mad too...
• Unemployment to remain above 8% in 2012 and 2013; will be around 7% by end of 2015; to drop to 5.25% by end of 2022.
  • This forecast is utterly idiotic and is completely unattainable unless the US workforce drops to all time lows and the US economy generates 300,000 jobs a month for 10 years
• Needless to say, CBO assumes the best of all worlds in this meaningless forecast
• But here is the kicker: "Had that portion of the decline in the labor force participation rate since 2007 that is attributable to neither the aging of the baby boomers nor the downturn in the business cycle (on the basis of the experience in previous downturns) not occurred, the unemployment rate in the fourth quarter of 2011 would have been about 1¼ percentage points higher than the actual rate of 8.7 percent" translation: CBO just admitted that the BLS numbers are bogus and real unemployment is 10%. Thank you

Read More at Zero Hedge

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CBO: Taxes Will ‘Shoot Up by More Than 30 Percent’ Over Next 2 Years

Posted by Brian

By Terence P. Jeffrey

January 31, 2012

(CNSNews.com) - The amount of money the federal government takes out of the U.S. economy in taxes will increase by more than 30 percent between 2012 and 2014, according to the Budget and Economic Outlookpublished today by the CBO.

At the same time, according to CBO, the economy will remain sluggish, partly because of higher taxes.

Read More at CNS News

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