Nonsequitur: $2 Trillion Cost and 2.5 Million Jobs Lost Due to Obamacare
February 4, 2014
The Congressional Budget Office has released a new report on the economy and revised projections. In Appendices B and C, the CBO estimates that the ACA will cost more than $2 Trillion over a ten-year period. Over this same time period, the ACA will eliminate over 2.5 million jobs due to “disincentives” built into the law.
The full report projects that the Budget Deficit will drop to $514 Billion (great news, only half a trillion over budget). The CBO also predicts continued slow growth of the economy and continued “slack” in employment.