Black Statement On Latest Cbo Report (diane Black)

Washington – Today, Congressman Diane Black (R-TN-06), a member of the House Budget Committee, released the following statement in response to the Congressional Budget Office’s (CBO) latest Budget and Economic Outlook:

“Today’s CBO report confirms the devastating effects that Obamacare is having on jobs and our economy,” said Congressman Black. “Not only will this law cost trillions of dollars over the next decade, but its adverse economic effects will also lead to a reduction of the equivalent of 2.3 million full-time jobs, according to this report. My Republican colleagues and I have been warning for years of the devastating effects Obamacare would wreak on our healthcare system and our economy only to be labeled ‘fear mongers’ by the President and our colleagues on the other side of the aisle. This report from CBO further underscores the need to repeal Obamacare and replace it with a system that expands access to healthcare and doesn’t put Americans out of work.”

CBO’s Key Findings

• Revenue in 2014 is on track to exceed its historic average of 17.4 percent of GDP.