Obamacare to cut work hours by equivalent of 2 million jobs: CBO – Yahoo News
By David Morgan and David Lawder
WASHINGTON (Reuters) – President Barack Obama\’s healthcare law will reduce the American workforce by the equivalent of 2 million full-time workers in 2017, the Congressional Budget Office said on Tuesday, prompting Republicans to paint the law as bad medicine for the U.S. economy.
In its latest U.S. fiscal outlook, the nonpartisan CBO said the health law would lead some workers, particularly those with lower incomes, to limit their hours to avoid losing federal subsidies that Obamacare provides to help pay for health insurance and other healthcare costs.
“This has been said from the get go, and the administration and media said it was all negative propaganda, now the CBO confirms, and now they are throwing a spin saying people will leave their jobs because the lower the income the better the subsidy to get Obamacare, first off the deductibles are in the stratosphere so even if they leave their jobs they still will not be able to afford medical care, and who in their right mind would leave a job just to pay for medical insurance, this administration is wacked out. Pelossi now you know you are seeing whats in the bill! This is just a boil that is festering, there is more to come!” – Kevin (online comment to original story)