...and in Washington, DC, and state capitals across America. But if you're in the private sector - the very place that the money is being drained from to create the stimulus - you've been pwn'ed:
Counter to the predictions put forward a year ago by the Administration, when it claimed that "more than 90 percent of the jobs created are likely to be in the private sector," U.S. companies employed 3.9 million fewer workers in January 2010 than they did one year earlier. Public employment bucked the trend, staying constant even as governments contended with sharply reduced tax revenues.
How off was our economically illiterate president?
....when touting the stimulus, President Obama and his team declared that "a package in the range that the President-Elect has discussed is expected to create between three and four million jobs by the end of 2010 . . . More than 90 percent of the jobs created are likely to be in the private sector."
90 percent of three million jobs would be 2.7 million jobs. Yet we're 3.9 million lower than when we started.
But they're celebrating Obamanomics, and Obamacare...in India. This is the stimulus they've been hoping for:
...President Obama signed into existence not just a historic healthcare reform law but also monumental piles of paperwork: New member registration forms. More claims. Ever-expanding databases. And on top of that, pressure to cut costs.
The bulge in administrative work may look like a nightmare to American insurance firms and government employees. But to outsourcing executives here in India, it’s heaven-sent. A number of Indian companies are already anticipating an increase in workload thanks to Obama's healthcare law.
The addition of 32 million insured Americans is “very significant” for Indian outsourcers, says Ananda Mukerji, chief executive officer of Firstsource Solutions in Mumbai.
Maybe Obama will write a new law saying insurance jobs must stay in the USA. Of course, they'll have to be unionized, of course, which will eventually raise rates. Obama will write a new law to forbid rate hikes, so the insurance companies will go bankrupt. Leaving Obama to either declare they are "too big to fail", and thus must be nationalized, or to junk the whole insurance industry and institute his beloved single-payer...
2 comments:
"A number of Indian companies are already anticipating an increase in workload thanks to Obama's healthcare law. "
Please get your facts right - FirstSource will get more work for eligibility services which can only be done on site in the US by its 100% US subsidiary, Medassist. If anything, this will mean more US jobs.
True - "some services in the US healthcare industry cannot be outsourced beyond America's borders due to regulations" as per the same AP article.
Of course, FirstSource is now setting up shops in America to handle the work that cannot overseas. So while there will be some additional paperwork-pushing jobs for Americans, the bulk of the profits will go to Indian companies.
Again, fair enough. But as the bulk of the work can be outsourced, the bulk of the jobs will be too.
Is this the best Obamacare and Obamanomics can do? "Pay more in taxes, give us control of your body, and in return we'll get you a job answering phones and filling out forms for an Indian company?"
Pathetic.
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