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February 5th, 2014
09:40 PM ET

Is Obamacare a massive jobs killer?

Is Obamacare a massive jobs killer?

The man who said Obamacare could cut the labor force by the equivalent of 2.5 million jobs was in the hot seat on Capitol Hill.

The Director of the Congressional Budget Office seeming to hit home runs for the Republicans.

REP. PAUL RYAN (R-WI): Just to understand this, it is not that employers are laying people off, but that people aren't working in the work force, aren't supply labor to the equivalent of 2.5 million jobs in 2024, and as a result work force participation rate, less labor supply lowers economic growth.

DOUG ELMENDORF, CBO: That is right, Mr. Chairman.

And for the Democrats:

CHRIS VAN HOLLEN (D-MD): So when you boost demand for labor in this kind of economy, you actually reduce the unemployment rate because those people who were looking for work can find more work, right?

DOUG ELMENDORF, CBO: Yes. That's right.

OutFront: Congressman Chris Van Hollen, the top Democrat on the House Budget Committee.


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