The Washington Times

Obamacare’s casualties: 800,000 jobs: Unemployment will rise if health care takeover isn’t stopped
The Washington Times

Repeal of Obamacare ought to be a priority not only on constitutional grounds, but also as a move essential to pulling our economy out of its malaise. The head of the Congressional Budget Office (CBO) let slip the reason why in testimony Thursday before the House Budget Committee. Over the course of a decade, the tax hikes and increased costs of government’s health care takeover would take a big toll on the job market. “If the reduction in the labor used was workers working the average number of hours in the economy and earning the average wage, there would be a reduction of 800,000 workers,” CBO Director Douglas W. Elmendorf predicted.

That estimate only holds true if the most favorable scenarios play out. The actual reduction in employment could be far worse if the economy continues to struggle as it has done so far under President Obama‘s statist policies. Nobody knows better than Mr. Obama‘s second-in-command that things don’t always work out as well as expected.

It’s no accident. This administration has turned America into a disproving ground for the failed economic theories of John Maynard Keynes, who taught that government investment was the key to growth. According to our Keynesian president, the endless supply of government money was supposed to serve as the fuel for productivity during the slump.