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Obamacare will push 2 million workers out of labor market: CBO

Discussion in 'News & Current Events' started by Revmitchell, Feb 4, 2014.

  1. Revmitchell

    Revmitchell Well-Known Member
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    Obamacare will push the equivalent of about 2 million workers out of the labor market by 2017 as employees decide either to work fewer hours or drop out altogether, according to the latest estimates Tuesday from the Congressional Budget Office.

    That’s a major jump in the nonpartisan budget agency’s projections and it suggests the health care law’s incentives are driving businesses and people to choose government-sponsored benefits rather than work.

    “CBO estimates that the ACA will reduce the total number of hours worked, on net, by about 1.5 to 2 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,” CBO analysts wrote in their new economic outlook.

    Read more: http://www.washingtontimes.com/news...sh-2m-workers-out-labor-market/#ixzz2sMqJwQsR
    Follow us: @washtimes on Twitter
     
  2. carpro

    carpro Well-Known Member
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    All according to plan.
     
  3. church mouse guy

    church mouse guy Well-Known Member
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    The moral of the 20th century is that your government is your enemy.
     
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