On February 4, 2014, the Congressional Budget Office (CBO) released a report that instantly became a focus of intense controversy and competing political spin. The report found that the Affordable Care Act (ACA or “Obamacare”) would reduce US employment by the equivalent of 2 million full-time workers by 2017, 2.5 million by 2024.
A new report from the union UNITE HERE, entitled The Irony of Obamacare: Making Inequality Worse, concludes that the Affordable Care Act will increase inequality because low-income Americans will have fewer hours of work and have to pay more for health insurance. At the same time Read more...
Tuesday, March 11, 2014
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For the past few years, a problematic phenomenon has troubled economists: US job growth has been anemic even as the unemployment rate has steadily dropped, mainly because large numbers of workers are dropping out of the workforce altogether.
As expected, President Obama’s State of the Union address to the nation last week was suffused with the theme of opportunity. Over the past two years, the president has consistently tied the opportunities of poor and middle class Americans to rising income inequality, and Tuesday he stayed true to this narrative: