Obamacare to cause major job loss, key report says

Sen. Chuck Grassley of Iowa today made the following comment on a new report from the Congressional Budget Office showing that the new health care will damage economic growth.  The report is available here.

"You can read dozens of analyses of the health care law, and some are clearly biased.  The Congressional Budget Office is the independent authority turned to by Congress.  According to CBO, the law will hurt economic growth, cause the loss of 2.5 million jobs, and add $1 trillion to the deficit.  No doubt, too many people lacked health insurance before Obamacare and needed help.  But Obamacare upends a big part of the economy while trying to achieve its goals.  Congress and the President should abandon Obamacare.  We ought to help the uninsured without disrupting jobs and adding debt."