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Earlier this year the director of the Congressional Budget Office (CBO) reported to the House Budget Committee on his agency's recently completed in-depth study of the affects of Health Care Reform laws passed in 2010.  He explained that the CBO estimates that the Health Care Reform laws of 2010 would reduce employment by 800,000 jobs by 2021.  Here is the text of the exchange:

Rep. [John] Campbell: Thank you, Mr. Chairman, we'll -- and Dr. Elmendorf -- and we'll continue this conversation right now. First on health care, before I get to -- before I get to broader issues, you just mentioned that you believe -- or that in your estimate, that the health care law would reduce the labor used in the economy by about 1/2 of 1 percent, given that, I believe you say, there's 160 million full-time people working in '20-'21.  That means that, in your estimation, the health care law would reduce employment by 800,000 in '20-'21. Is that correct? 

Director Elmendorf: Yes. The way I would put it is that we do estimate, as you said, that...employment will be about 160 million by the end of the decade.  Half a percent of that is 800,000.

Here is the Link to the article quoting the text on the Weekly Standard Website:
CBO Says Health Care Reform Would Reduce Employment by 800,000 Workers
Posted 1:36 PM  View Comments

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