Author Topic: CBO chief: Obamacare creates a "disincentive for people to work"  (Read 184 times)

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Offline rangerrebew

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CBO chief: Obamacare creates a "disincentive for people to work"
« on: February 09, 2014, 08:38:46 AM »
CBO Chief: ObamaCare Creates 'A Disincentive For People To Work' 

Mike Miller  Mike Miller
On February 5, 2014

The head of the Congressional Budget Office told lawmakers Wednesday that ObamaCare creates a “disincentive for people to work.” Moreover, the CBO estimates that 2 million jobs will be lost in the next 3 years.

The warning from Douglas Elmendorf, director of the bipartisan CBO, comes on the heels of the office’s report that millions of workers could cut back their hours or opt out of the job market altogether because of ObamaCare. Elmendorf said flatly:

“The act creates a disincentive for people to work.”

Rep. Paul Ryan (R-WI), who was questioning Elmendorf about the prospect of ObamaCare-related job losses, clarified the director’s comment — that the CBO found more people will choose not to work, vs. being laid off:

“As a result … that [lower] labor supply lowers economic growth.”

Elmendorf responded:

“Yes, that’s right.”

And so it goes. Five million cancelled healthcare policies later — with millions more projected to be cancelled this year — and the ObamaCare’s bad news just keeps getting “better and better?”

Should be an interesting midterm election in November, should it not?
« Last Edit: February 09, 2014, 08:39:46 AM by rangerrebew »
There is danger from all men. The only maxim of a free government ought to be to trust no man living with power to endanger the public liberty.
Public virtue cannot exist in a nation without private, and public virtue is the only foundation of republics. There must be a positive passion for the public good, the public interest, honour, power and glory, established in the minds of the people, or there can be no republican government, nor any real liberty: and this public passion must be superior to all private passions. John Adams

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