Johanns: Latest Report Shows Obamacare Hurts Economy, Middle Class

 

Nebraska's  U.S. Sen. Mike Johanns  made the following statement after a Congressional Budget Office (CBO) report released today found that Obamacare’s negative effects on the economy will be “substantially larger” than previous estimate, including the loss of the equivalent of 2.5 million full-time jobs over the next decade.
“Millions of Americans have already been hit hard by Obamacare, and this nonpartisan report shows that we have only seen the tip of the iceberg,” Johanns said. “Just last week, the President pledged to strengthen the middle class, yet this is additional solid evidence that his policies are doing just the opposite. It’s time for the President and the law’s other supporters to join with those of us advocating real solutions.”
Today’s CBO report estimates that Obamacare will:

• Lead to the equivalent of 2.5 million fewer full-time jobs by 2024;
  • The number of job-equivalent hours lost by 2021 is projected to be
    2.3 million, nearly three times the original estimate.  
  • Decrease wages due to employer penalties;
  • Result in 1 million fewer Obamacare enrollees than previous estimates;
  • Result in 6 to 7 million fewer enrolled in employer-sponsored health care each year; and
  • Increase government spending more than $2 trillion over the next 10 years.