Tuesday, February 04, 2014

It Seems Obamacare is a Jobs Killer After All: A Little Late CBO

Well it seems the CBO revised their estimates and Obamacare is looking even worse than a bad website.


CBO estimates that the ACA will reduce the total number of hours worked, on net, by about 1.5 percent to 2.0 percent during the period from 2017 to 2024, almost entirely because workers will choose to supply less labor — given the new taxes and other incentives they will face and the financial benefits some will receive. 

The reduction in the numbers of hours worked projected by the CBO will lead to the equivalent of 2 million fewer workers in the labor force in 2017. That number will rise to about 2.5 million in 2024. Previously, the CBO had estimated the equivalent of 800,000 fewer workers by 2021.

Just when the economy was picking up it seems that Obamacare will shave 2 million more workers from the workforce by 2017. Obamacare is the failed government program that keeps on giving.

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