Wednesday, October 27, 2010

CBO Director Says ObamaCare’s “Most Significant Economic” Effect Will Be To Drive People From the Workforce

From Weasel Zippers:
( – Congressional Budget Office Director Douglas Elmendorf said the most significant economic effect of President Barack Obama’s health care reform package will be to drive people out of the job market.
“For the economy outside the health sector, the most significant impact of the legislation will be through the labor market,”Elmendorf said on Oct. 22.  “We estimated that the legislation, on net, will reduce the amount of labor used in the economy by roughly half a percent, primarily by reducing the amount that people choose to work.”

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