Thursday, October 28, 2010
CBO Director: ObamaCare Will ‘Discourage People From Working’ | The Blaze
Democrats denied it while many conservatives warned it. Now, Congressional Budget Office Director Douglas Elmendorf is warning that the most significant economic effect of President Barack Obama’s health care overhaul will be driving people from 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 at an Oct. 22 conference sponsored by the Leonard D. Schaeffer Center for Health Policy and Economics at the University of Southern California. “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,” he said."
“For the economy outside the health sector, the most significant impact of the legislation will be through the labor market,” Elmendorf said at an Oct. 22 conference sponsored by the Leonard D. Schaeffer Center for Health Policy and Economics at the University of Southern California. “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,” he said."
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