Mark Thiessen found an interesting little nugget in the CBO report that was overlooked by the media. The rotten law is giving Americans a $70 billion annual pay cut. As if losing the health plans you liked, or the doctors you’ve seen for years wasn’t bad enough. Good grief.
In his State of the Union address, President Obama urged Congress to “give America a raise.” Well, it turns out that Obama is giving America a $70 billion annual pay cut, courtesy of Obamacare.
That is the overlooked nugget in the new Congressional Budget Office report detailing the economic costs of Obamacare. While much attention has been paid to the report’s finding that Obamacare will reduce employment by as much as 2.5 million workers, buried on page 117 (Appendix C) is this bombshell: “CBO estimates that the ACA will cause a reduction of roughly 1 percent in aggregate labor compensation over the 2017-2024 period, compared with what it would have been otherwise.”
Translation: Obamacare means a 1 percent pay cut for American workers. (Read More)
How much more of this can the economy take?