The CBO has updated its projections for Obamacare’s impact on the economy, and it’s not pretty. By 2021 the CBO is projecting that Obamacare will have cost America the equivalent of 2.3 million jobs. That’s up from the CBO’s previous estimate of about 800,000.
Just to put that number into perspective, 2.3 million jobs lost is like the entire state of North Dakota becoming unemployed three times over.
President Barack Obama’s signature healthcare law will contribute to this phenomenon, CBO said, citing new estimates that the Affordable Care Act will cause a larger than-expected reduction in working hours – eliminating the equivalent of about 2.3 million workers in 2021 versus a previous estimate of an 800,000 decline.
So, the Obamacare checklist:
Health insurance that’s more expensive than before? Check.
Health insurance that’s harder to get than before because of bureaucracy? Check.
Health insurance that requires more out of pocket payments? Check.
Fewer jobs for Americans? Check.