800K Jobs lost – happy days ahead

We have been saying for months that Obamacare is going to cost more money and jobs then anyone will let on. We have seen a little ray of hope that truth is coming from the inside as testifying before the House Budget Committee, Congressional Budget Office Director Doug Elmendorf confirmed that Obamacare is expected to reduce the number of jobs in the labor market by an estimated 800,000. The Chairman Paul]Ryan: put the question that the new health care law will create jobs and increase labor force participation. But if I recall from your analysis, it was quite the opposite. Is that not the case, to which Director Douglas Elmendorf : confirmed with a Yes. Dr. Elmendorf believes that the health care law would reduce the labor used in the economy by about 1/2 of one percent. There will be an estimated 160 million full-time people working in 2020-2021. Using simple math that means the health care law would reduce employment by 800,000 in 2020-2021. Director Elmendorf confirmed this with a Yes. There is something to look forward to. The best part is President Obama will be long gone even if he does get a second term and then there is no way to change any of it. This is why we need to make him disaper in 2012 and repeal the bill in 2013.

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