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CBO Report on Obamacare Ignites Firestorm

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The Congressional Budget Office has ignited a firestorm of counter-claims on whether Obamacare will cost 2 million jobs in coming years. ABC News reports each side is reaching its own conclusions.  Republican critics of Obamacare are declaring, they told you so.  Indiana Republican US Senator Dan Coats says the report confirms Obamacare is a job killer and that he is promoting alternative solutions to replace it with step-by-step reforms.
The President's economic team is pushing back hard saying critics are totally mis-reading the CBO report and that people wont be trapped in low-wage jobs just to keep their insurance.
The report finds that:
·         Obamacare will reduce the number of full-time workers by 2.3 million people through 2021, a significant revision from the last estimate of 800,000 during the same time period.
·         Mandatory spending and interest on the debt is projected to consume 94 percent of all federal revenues 10 years from now, squeezing out funding for other priorities.
·         CBO projects Social Security will continue to run cash-flow deficits every year during the next decade.
·         Labor force participation will continue to decline over the next several years to 62.5 percent by the end of 2017, fueled in part by disincentives to work in Obamacare.
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