The Hill reports more “benefits” of the Affordable Care Act: “CBO: 2 million jobs’ worth of hours lost under ObamaCare.”
ObamaCare will force a reduction in American work hours — the equivalent of 2 million jobs over the next decade, Congress’s nonpartisan scorekeeper said Monday.
The total workforce will shrink by just under 1 percent as a result of changes in worker participation because of the new coverage expansions, mandates and changes in tax rates, according to a 22-page report released by the Congressional Budget Office (CBO).
“Some people would choose to work fewer hours; others would leave the labor force entirely or remain unemployed for longer than they otherwise would,” the agency said in its latest analysis of the now five-year-old law.
The CBO is not predicting that employers will fire millions of workers or reduce hours because of the law, but that the law changes incentives over the years for the workers themselves both in part-time and full-time positions.
This would be bad news at any time. But it is horrible news right now when a record number of Americans are already absent from work. The labor participation rate is the lowest it has been since the Carter era.
It’s great that employees will be voluntarily not working. But if people no longer want to work that can only be because the government is giving away more free stuff. So the government spends more and the people work less.
That isn’t sustainable.
Notice that this was known a year ago and Liberals like Anderson Cooper were defending it.
Notice that Cooper admits the truth even while attacking the Republicans. Government-subsidized insurance encourages people to not work as much.
Fewer productive hours of working means less tax revenue. Obamacare is going to hasten our economic crisis.