CBO: Effects of Obamacare on Business Will Kill 2 Million More Jobs By 2017

The Congressional Budget Office says that Obamacare will force 2 million more people out of work in the next 3 years.

Democrats always want to tout CBO estimates as gospel, but this is one time that Democrats will probably not agree with the CBO.
We, on the other hand, feel differently, as this is one of the few times that we actually agree with the CBO numbers.

Honestly though, the Congressional Budget Office is worthless. The CBO is just a group that politicians use to say, “Look, this nonpartisan budget agency says they agree with us”. In reality, the CBO scores any numbers they are given. They do not try and find out if the numbers are real or fake. So if Obama and the Democrats feed the CBO fake numbers, as they usually do, the CBO will always come back with fake results that the Democrats can use to support their destruction of America.

Obamacare will push the equivalent of about 2 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.

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.

“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.

The scorekeepers also said the rollout problems with the Affordable Care Act last year will mean only 6 million people sign up through the state-based exchanges, rather than the 7 million the CBO had originally projected.

But over the long run, Obamacare will eventually catch up and by 2020 only about 30 million people will be without insurance coverage — down from 45 million this year. That will mean about 92 percent of legal U.S. residents without guaranteed access to Medicare will have insurance coverage.

Taking the budget as a whole, the CBO said Congress has made substantial headway on cutting spending and raising taxes, which has cut the deficit in 2014 to just $514 billion.

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