Two months in, Obamacare promises more failures, delays, and uncertainty
Wednesday, February 12th, 2014 @ 1:22PM
Welcome to month two of Obamacare. Millions of Americans have already lost their insurance policies and their doctors, and premiums are skyrocketing across the country. The broken promises are piling up, and to make matters worse, the Congressional Budget Office (CBO) has now confirmed what conservatives have been warning about for years: Obamacare will be a significant drag on our economy.
Indeed, the CBO now says the president’s signature domestic policy achievement will reduce employment by the equivalent of 2.5 million full-time jobs over the next decade and cost over $2 trillion. This news comes amid the worst labor force participation rate this country has faced since the Carter Administration. At a House Budget Committee hearing last week, CBO Director Douglas Elmendorf told me pointedly that the reduced labor force participation rate will be “the central factor in slowing economic growth.”