Sunday, October 24, 2010

CBO Determines Obamacare Could Cost 700,000 Jobs

From CBO head Doug Elmendorf's presentation at the Schaeffer Center in California:

There are always unexpected consequences when the Federal Government tinkers with private markets. (emphasis mine)

From NewsBusters:
"Small"? Given that about 140 million people are working, "roughly half a percent" amounts to about 700,000 jobs (somewhat higher than the number Graham used in his column).

Gee Doug, if there's any evidence of the negatively dynamic effect of ObamaCare on the job market and the economy as a whole in the your "certified" March report (I know, that's not your word), I'm not seeing it. (My guess is that Congress specifically directed CBO to ignore dynamic effects, and the CBO's hands were tied.)

Read more here.

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