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February 11, 2011

ObamaCare Will Kill 800,000 Jobs

Posted by Dave Blount at February 11, 2011 9:01 AM

…unless we kill ObamaCare first. Here's what Congressional Budget Office Director Doug Elmendorf has to say about ObamaCare's effect on the already stratospheric unemployment rate:

Rep. [John] Campbell: Thank you, Mr. Chairman, we'll — and Dr. Elmendorf — and we'll continue this conversation right now. First on health care, before I get to — before I get to broader issues, you just mentioned that you believe — or that in your estimate, that the health care law would reduce the labor used in the economy by about 1/2 of 1 percent, given that, I believe you say, there's 160 million full-time people working in '20-'21. That means that, in your estimation, the health care law would reduce employment by 800,000 in '20-'21. Is that correct?
Director Elmendorf: Yes. The way I would put it is that we do estimate, as you said, that… employment will be about 160 million by the end of the decade. Half a percent of that is 800,000.

ObamaCare will have an even more catastrophic effect on the looming deficit crisis. It is not so much a healthcare bill or even a power grab as an act of economic sabotage. If America is ever to return to the pre-Obama days of economic promise, this abomination must be completely destroyed, and the malignant statists who tried to impose it removed from office at the soonest opportunity.

On tips from Milton and J.