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The Obama economy's double-whammy: Discouraging both job creation and work

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With a degree of candor rare even for the Congressional Budget Office, Director Douglas Elmendorf recently testified that reduced labor force participation (the number of people either working or looking for work) was “the central factor in slowing economic growth." Appearing before the House Budget Committee, he further stated that “later in this decade and beyond, the principal reason why we...

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