This week the Congressional Budget Office, which played a major role in the way the administration sold the Affordable Care Act aka Obamacare, released a report finding President Obama’s signature law will reduce hours worked by the equivalent of 2.5 million jobs.
The president and his allies have taken to defending, indeed celebrating, this finding, by saying Obamacare will end the problem of “job lock” in which Americans work in order to pay for their health insurance, as opposed to not working and having other people, such as the taxpayers, pay for their health insurance instead.
As White House economic adviser Jason Furman explained, the most recent CBO report on Obamacare is “subject to misinterpretation, doesn’t take into account every factor, and there’s uncertainty and debate around it.”
The WFB remembers when the CBO was beloved by Furman and his acolytes.
You can read the editors’ take here.