The CBO projects Obamacare will cost 2.5 million jobs over the next decade

 The CBO has released a new report on Obamacare and the news is not good; Obamacare will directly cause the loss of 2.5 million jobs over the next decade:

The new healthcare law will cost the nation the equivalent of 2.5 million workers in the next decade, the Congressional Budget Office (CBO) estimated in a report released Tuesday.

The nonpartisan agency found the reform law’s negative effects on the economy would be “substantially larger” than what it had previously anticipated.

It said the equivalent of 2.3 million workers would be lost by 2021, compared to its previous estimate of 800,000, and that 2.5 million workers would be lost by 2024. It also projected that labor force compensation would be reduced by 1 percent from 2017 to 2024 — twice its previous estimate — and that declining economic growth would add $1 trillion more to deficits.

    Part of the reason will be the fact that people will either work less hours so they will be eligible for subsidies or decide to leave the workforce altogether:

“The estimated reduction stems almost entirely from a net decline in the amount of labor that workers choose to supply, rather than from a net drop in business’ demand for labor,” the CBO report said.

Some people will leave the workforce or reduce their hours in response to lower wages because of the healthcare law, while others will leave or reduce their hours because they have insurance coverage and do not need to work full time to keep it, the CBO said.

The Obama regime apparently feels this is good news:

The White House swiftly pushed back against the findings, seeking to dismiss suggestions from Republicans that the Affordable Care Act has contributed to a slower economic recovery or would “kill” jobs.

It pointed out that the CBO concluded the reduction in worker hours was almost entirely because of workers choosing to work less.

  The Obama regime is now dismissing the CBO report while once they touted the CBO in order to gain support for Obamacare. Funny how that works, isn’t it?

  Talk about disincentivizing the work ethic in this country! The government is now in the process of making it less beneficial for Americans to work by making them more dependent on the government for what they otherwise would have had to work for, but of course that was all part of the plan from the beginning. The more people are dependent on the government they more they are subservient to it as well.

  I guess the Obama regime will defend this by stating that because many Americans are choosing to work part time instead of full time this will open up more part time jobs for more Americans–talk about twisted logic!