During testimony before the House Budget Committee in February 2011, Doug Elemendorf, director of the Congressional Budget Office, told Rep. John Campbell (R-CA) that ObamaCare would reduce employment by some 800,000 by 2021. The effects of the law on the job market was a point that many policy analysts were making before its passage.
Unfortunately, the Obama Administration and Democrats in Congress weren’t listening. And now, the Federal Reserve has released a report noting that ObamaCare is leading many businesses to layoff workers:
The Federal Reserve on Wednesday released an edition of its so-called “beige book,” that said the 2010 healthcare law is being cited as a reason for layoffs and a slowdown in hiring.
“Employers in several Districts cited the unknown effects of the Affordable Care Act as reasons for planned layoffs and reluctance to hire more staff,” said the March 6 beige book, which examines economic conditions across various Federal Reserve districts across the country.
(Excerpt) Read more at unitedliberty.org ...
