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White House Sings New Tune on Labor Force, Now that CBO Says ObamaCare Will Decrease it By Over 2 Million
White House Two Months Ago: Decline in labor force participation increases inequality (i.e. the “defining challenge of our time”) and is a sign of a not “strengthening economy.”
“Q: You’re now concerned about inequality -- I’m wondering if there has been any changes to the labor supply that help or hinder inequality?
“Over the longer run, CBO finds that because of this law, individuals will be empowered to make choices about their own lives and livelihoods, like retiring on time rather than working into their elderly years or choosing to spend more time with their families. At the beginning of this year, we noted that as part of this new day in health care, Americans would no longer be trapped in a job just to provide coverage for their families, and would have the opportunity to pursue their dreams.”
Reality: A smaller labor force is bad for the country, and even worse for those families going without work – in particular those low-wage workers who are most likely to be affected by loss of hours and wages resulting from ObamaCare.