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Obamacare Regulations Cost: 30,000 Jobs Killed, $27.6 Billion…so far

Posted by FactReal on October 9, 2012

ObamaCare is not fully implemented yet, but it is placing billions of dollars in regulatory burdens on employers and on state budgets.

The Washington Examiner reported today on the findings of a study done by the American Action Forum (AAF) about the impact of Obama’s health care law.

Highlights:
● Obamacare regulations have already cost the U.S. economy $27.6 billion and more than 18,000 jobs.

● The top 10 most expensive regulations have cost $24.4 billion.

● Complying with the state health exchanges alone has to cost employers $3.4 billion.

● Obamacare regulatory compliance has eaten up more than 60 million hours in paperwork. At 2,000 hours a year that comes to 30,000 jobs.

● States bearing the largest regulatory burden in cost and lost employment:
— California: $3.4 billion in compliance costs and 2,917 jobs lost.
— Texas: $1.8 billion and 1,292 jobs lost.
— New York: $1.7 billion and 1,383 jobs lost.
— Illinois: $1 billion and 816 jobs lost.
— Florida: $1.6 billion and 978 jobs lost.

(Note: These figures are minimum costs, conservative estimates, and based on data provided by government agencies.)

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