CBO findings and what they leave out
To the Editor:
Last week’s letter on the Affordable Care Act read like a promo for low-fat ice cream. Who would not want a bowl?
When in fact the Congressional Budget Office report is from 2009 with an addendum in 2010. The loss of the dollars value by 8-10 percent in that time frame needs to be accounted for. The letter does not mention that this report was from over four years ago and as such, has no bearing on today’s market.
Would you reward your child for a report card in their senior year that they dug up from middle school?
What is true is that the bulk of cost from this program will go to additional federal employees. Early estimates placed the first round of hiring that cover 159 agencies, including overseers and committees for grants provided by the agencies, to be in the thousands. We do know from the Bureau of Labor Statistics this June 2013, the number of people employed by government increased by 621,000 to 20,559,000. These 621,000 new government jobs created in the last five months equal 73.3 percent of the 847,000 new jobs created overall. Google new construction in Washington, D.C., to see it yourself.
The discussion is not how much low-fat ice cream should be eaten, we already know that. The discussion is why create more whole-fat ice cream when we need to reduce our weight.
With 621,000 federal employees at a rough average of $50,000 a year in salary and another $15,000-20,000 in benefits, pension and health care is a whole lot of taxes to be paid for by our young adults on top of their increased ACA cost they are now forced to participate in.
According to BLS, in 2011, there were 111.7 million full-time workers in the United States. Of these, 18.1 million worked for local, state or federal government, and 93.6 million worked in the private sector. In simple numbers, kids, it will take five of you working as hard as possible and paying taxes in the 30 percent bracket to cover just one federal, local or state employee. By the way, when they retire in 20 years and have to be replaced by another 20 million, it will take 10 of you to pay their salaries and retirement income.
Kat McGhee does a great job presenting the CBO numbers with a defiant view toward the real world we live in. Reality is we need less government because there will be less taxpayers. The birth rate has declined, which means more boomers retiring and lesSs adults carrying the burden, The birth rate in adults from the 20-30 year age group is very low as is the child per family numbers.
In summation, I would present that we need to end the feel good policies of the boomer years, stop sneaking behind the barn and smoking a fat one, let the haze wear off and look at the raw numbers of the CBO. Then figure out a way to not saddle our 20-year-old children with the cost of this or any additional federal plan.
And by the way, it is only a law until Congress passes a bill to end it.
P.S. Barbara Bush had it right, “Just say no!”