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CBO revises estimates on Obamacare again: It’s going to be as much of a disaster as opponents warned

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By Doug Powers  •  February 4, 2014 04:29 PM

**Written by Doug Powers

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This might come only as a surprise to loyal Obamacare devotees and those who wrote previous rosy CBO estimates which the White House trumpeted.

From The Hill:

The new healthcare law will cost the nation about 2.3 million jobs by 2021 and contribute to a $1 trillion increase in projected deficits, the Congressional Budget Office (CBO) said in a report released Tuesday.

The nonpartisan agency’s report found the healthcare law’s negative effects on the economy will be “substantially larger” than what it had previously anticipated.

We might as well take this latest CBO estimate and triple it, because the CBO probably will in a year or two.

Hard to believe that a law rammed down America’s throat based on “pass it to find out what’s in it” and “if you like your plan you can keep it” has led to this:

To put it in storyboard fashion, here was the CBO at the beginning of the Obamacare journey:

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And just a bit down the road, reality is starting to set in:

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Cue another “lowered expectations” CBO revision.

**Written by Doug Powers

Twitter @ThePowersThatBe

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