CBO Director: Obamacare Creates a Disincentive For People to Work

CBO Director Douglas Elmendorf told the House Budget Committee Wednesday that Obamacare will create a "disincentive" for people to work by giving them subsidies to buy health coverage.

"By providing heavily subsidized health insurance to people with very low income and then lowering those subsidies as their income goes up, the act created a disincentive for people to work relative to what would have been the case in absence of the act," Elmendorf said.