To the editor of THE EAGLE:
In reference to Tuesday’s letter from Bill Rice ("Krugman backs less work, less money") regarding Paul Krugman’s piece in Monday’s paper, my guess is that Mr. Rice is one of those Republicans that Charles M. Blow wrote about in the same edition, "cranking out scurrilous memes that defame the president and distract from the party’s inaction."
My understanding is the two million persons that will lose their jobs by quitting or otherwise, are people who are only working because it is the best and perhaps only way they can afford health insurance. Except for that fact, they wouldn’t be working at all, many being in retirement, or opting for early retirement, or with self-employed spouses who don’t have health coverage, etc. One needs to understand that those two million people are entitled to the benefits of the Affordable Care Act whether they choose to continue working or not. The ACA is not a giveaway to a select group.
What everybody seems to forget is that when those two million people stop working, they will not be unemployed. Instead, they will be out of the labor force. And there are two million others who will be needed to fill their shoes. So, while no new jobs will be created, the ranks of the unemployed will shrink by -- ta da! -- two million, which is no small accomplishment in today’s economy.
If Mr. Rice disagrees with what Mr. Krugman says, perhaps he should direct his comments to the independent Congressional Budget Office, the source of the information Mr. Krugman cites.
CHARLES I. FRANCIS