WALORSKI STATEMENT ON CBO REPORT CITING JOB LOSS, SLOW ECONOMIC GROWTH

Tuesday, February 4, 2014

WASHINGTON, D.C. – Congresswoman Jackie Walorski (IN-02) released the following statement regarding the annual Budget and Economic Outlook report released today by the non-partisan Congressional Budget Office (CBO) stating that Obamacare will slow economic growth and cost millions of jobs:

“The writing is on the wall with Obamacare. This new report reinforces the same negative impacts that I hear about from Hoosiers on a daily basis, as individuals continue to lose their preferred health care plans or are put out of a job due to misguided provisions in Obamacare.

“Over 108,000 Hoosiers have already lost their health insurance coverage despite President Obama’s promise that, ‘If you like your plan, you can keep it.’ As I have said before, the American people know Obamacare contains bad policies that are harming healthy economic growth and putting Americans out of work. I will continue to be at the table to work on commonsense legislation to repeal harmful provisions and fix our health care system without breaking the bank or hurting the workforce.”

According to the CBO report, Obamacare is set to:

  • Reduce the number of fulltime workers by 2.3 million by 2021
  • Contribute to a $1 trillion increase in projected deficits
  • Reduce labor force compensation by 1 percent from 2017-2024

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