CBO: ObamaCare KILLS 800,000 Jobs. That’s Not a Typo.

February 10, 2011

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Testifying today before the House Budget Committee, Congressional Budget Office (CBO) Director Doug Elmendorf confirmed that the health care law will reduce the number of jobs in the labor market. The Budget and Economic Outlook released by CBO in August projected a 0.5 percent reduction in the labor market as a direct result of the health care law. Director Elmendorf responded in the affirmative when asked by House Budget Committee Chairman Paul Ryan whether CBO has found that the new health care law will reduce jobs and decrease labor force participation. In subsequent questions, Elmendorf confirmed that CBO projects that household employment will be about 160 million in 2021, therefore the 0.5 percent reduction in the labor market resulting from the health care law will equal roughly 800,000 full time employees.
See comments from the unofficial CQ transcript: HERE.

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