Remember Obama's big dog and pony show summit on health care last year when he invited Washington's top political leaders to Blair House to discuss the health care bill? While Obama, Biden and Harry Reid looked on, then House Speaker Nancy Pelosi made this statement:
PELOSI: "In its life [health care reform] will create 4 million jobs, 400,000 jobs almost immediately."
Congressional Budget Office Says Not So!
Throughout the health care debate Dems like Pelosi loved to cite the Congressional Budget Office, whose findings, based on the phony numbers Democrats supplied them with (garbage in, garbage out, were widely hailed as justification for taking the big leap known as ObamaCare.
Well guess what? When asked a direct question about the phony claim of jobs created by the health bill, the head of the CBO has a different answer:
Chairman [Paul] Ryan: “[I]t’s been argued...that the new health care law will create jobs and increase labor force participation. But if I recall from your analysis, it was quite the opposite. Is that not the case?”Will we now see Pelosi, Obama and the Dems who trumpeted CBO's earlier findings embrace Elmendorf's statement and admit they were wrong? When has that EVER happened?
Director [Douglas] Elmendorf : “Yes.”...
[…]
Rep. [John] Campbell: Thank you, Mr. Chairman, we'll -- and Dr. Elmendorf -- and we'll continue this conversation right now. First on health care, before I get to -- before I get to broader issues, you just mentioned that you believe -- or that in your estimate, that the health care law would reduce the labor used in the economy by about 1/2 of 1 percent, given that, I believe you say, there's 160 million full-time people working in '20-'21. That means that, in your estimation, the health care law would reduce employment by 800,000 in '20-'21. Is that correct?
Director Elmendorf: Yes. The way I would put it is that we do estimate, as you said, that...employment will be about 160 million by the end of the decade. Half a percent of that is 800,000.
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