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CBO: ObamaCare Will Cost The Equivalent Of 2 Million Jobs

- December 18, 2015

"ObamaCare Will Force A Reduction In American Work Hours - The Equivalent Of 2 Million Jobs Over The Next Decade." "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." (Sarah Ferris, "CBO: 2 Million Jobs' Worth Of Hours Lost Under Obamacare," The Hill, 12/7/15)

The Nonpartisan Congressional Budget Office (CBO): ObamaCare "Will Make The Labor Supply … 0.86 Percent Smaller In 2025 Than It Would Have Been In The Absence Of That Law." "The Affordable Care Act (ACA) will make the labor supply, measured as the total compensation paid to workers, 0.86 percent smaller in 2025 than it would have been in the absence of that law, the Congressional Budget Office estimates." (Edward Harris and Shannon Mok, "How CBO Estimates the Effects of the Affordable Care Act on the Labor Market," Congressional Budget Office Report , 12/15)

  • ObamaCare's "New Coverage Expansions, Mandates And Changes In Tax Rates" Is Responsible For The Loss Of Worker Hours. The total workforce will shrink by just under 1 percent as a result of the new coverage expansions, mandates and changes in tax rates, according to a 22-page report released by the Congressional Budget Office (CBO). (Sarah Ferris, "CBO: 2 Million Jobs' Worth Of Hours Lost Under Obamacare," The Hill, 12/7/15)
  • More Individuals Are Choosing To Leave The Workforce Or Reduce Their Hours Due To Obamacare. "'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." (Sarah Ferris, "CBO: 2 Million Jobs' Worth Of Hours Lost Under Obamacare," The Hill, 12/7/15)

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