CBO: Obamacare to cost 2.3 Million jobs, $1 Trill more debt…

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Obamacare will push the equivalent of about 2.3 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 (CBO).

President Barack Obama pauses as he speaks about the new health care law during a White House Youth Summit, Wednesday, Dec. 4, 2013, in the South Court Auditorium in the Eisenhower Executive Office Building on the White House complex in Washington. (AP Photo/Carolyn Kaster) 

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.

The report also indicates that the effects of socialized medicine Obamacare will add ANOTHER $1 Trillion to the nation’s debt as well.

“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.

Thanks for the Grand Lie of 2013 (“if you like your doctor…”) and the lie of a decrease of $2500 per household of insurance costs. Brace yourselves, dear komrads, Dear Leader has more in store for you.

 

 

 

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