On the recordFebruary 5, 2014
Yesterday the nonpartisan Congressional Budget Office, CBO, issued a report stating the Affordable Care Act, otherwise known as ObamaCare, will slow economic growth over the next decade substantially more than previously predicted. According to yesterday's report, the Affordable Care Act could lead to 2 million fewer workers in the workforce between now and 2017, which is nearly three times as high as CBO's earlier predictions. What is even worse, this number is supposed to rise in later years to the equivalent of 2.5 million jobs by 2024. According to The Hill newspaper: The agency, CBO, also said employer penalties in the law would decrease wages, and part-year workers would be slower to return to the workforce because they would seek to retain ObamaCare insurance subsidies. We cannot afford more blows to jobs. We cannot afford more blows to the American workforce. We cannot afford more blows to our economy. We as policymakers should be focused on breaking down barriers to employment in order to increase wages. Mr. Speaker, the administration better get better at explaining this law to the American people or start working with this body to repeal and fix it. The American people deserve better. The American people deserve jobs. ____________________
Source
govinfo.gov




