that brings back happy memories. this is not disco. that s the hustle right? can we talk about another kind of hustle? in band they allowed us to play one song that we recognized. we chose the hustle in sixth grade. the bad news is for clarinet players they chose the flutes to stand in front of everybody. so you didn t get the face time? no face time. over here it says talk about the hustle. now that we re done with that, let s move on. rising premiums, seeing a doctor you love and can no more, is no longer a possibility, it is the complications that have come along with obamacare, if that seems like enough for you problemmateically, this might make things worse. the c.b.o. released a
listen, we know are watching tv this morning and we hope. because a lot of people aren t going to work, aren t going to school. we got a little bad news for you. remember we heard from the president and democrats that obamacare was going to save us machine with health care. we could keep our doctors if we wanted them and you would have more choices? that turned onto to be no, no and no. now the congressional budget office, which is nonpartisan, has projected that the affordable care act, which is not so affordable, will reduce the total number of hours americans work by the equivalent 26.3 million full-time jobs by the year 2021. they had thought maybe 800,000 jobs. but as it turns out, over 2 million jobs. so the theory is this could be good news, because a lot of people want to get benefits and that s why they stay with their job and may pick up another job. now that you can get affordable health care, theoretically.
and this really started during the 60s with lbj s war on poverty, right? absolutely. lbj, that election in 1964 where goldwater went to lbj is the most important election since world war ii because lbj used those massive democratic majority to create a whole set of legislation, especially medicaid and medicare, but also a bunch of other things that we re still wrestling with today. the entire fiscal crisis we have today in this country is because of lbj. and you also say if you want to keep these programs, you got to do something to finance these programs, so you vilify the rich and you say, they re the problem. so let s jack up the taxes and pay for the programs that we all need. margaret thatcher once said, the problem with socialism is you eventually run out of other people s money. and we re experiencing that today. medicare and medicaid in particular and obamacare will add to this, are crowding out our ability to actually have a real safety net for people who really need
it will be really, really hard. it takes people who really study these programs intensively to understand where the leverage points are to turn them around and turn the battleships around. it can be done. it will take a lot of courage from congress to take on these growing entitlements and resistant urge to spend the money. because it s so easy to characterize the other guy as not caring about the poor if you decide to curtail these programs and do something like the welfare reform like we saw in the clinton years. in your previous sect, you talked about this new cbo report, which is indicating that obamacare and the subsidies are discouraging people from staying in the work force. that s the problem with most of these entitlement programs in the first place. the more you pay people not to work, the more you discourage people from seeking a job cause they make more money sitting on a welfare payment. as a result, you have smaller and smaller taxpayer base that s paying for all t
would some be lost under the affordable care act. it provides subsidies focused on lower income people to buy health insurance. the subsidies are very large and they are withdrawn for people as the income rises. and by providing subsidized insurance and withdrawing them creates a disincentive for people to work. the more you make, the less money you will get to pay for health insurance. so people will make the choice of working less and keeping the subsidy and that is where you see the jobs loss.