CBO Chief: ObamaCare Creates 'A Disincentive For People To Work'
Mike Miller Mike Miller
On February 5, 2014
http://mikesright.wordpress.com/ 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?
http://www.ijreview.com/2014/02/113163-cbo-chief-obamacare-creates-disincentive-people-work/
