Obamacare to destroy 2 million jobs in America, says government budget office
by: Ethan A. Huff
Monday, February 17, 2014
If you like your job, you might not be able to keep it under Obamacare. Following reports that millions of full-time employees have already been laid off or relegated to part-time status as a result of the so-called “Affordable Care Act” (ACA) being declared law, the Congressional Budget Office (CBO) now estimates that the equivalent of another 2 million full-time workers will probably be eliminated from the labor market within the next three years in exchange for government healthcare.
The CBO maintains that most of these cuts will be voluntary in nature, with an increasing number of taxpayers simply deciding to opt out of the workforce altogether rather than pay higher taxes for fewer benefits. Essentially incentivized volunteerism, this next mass exodus from the workforce will represent workers for whom it makes more sense to just stop working and maximize their Obamacare coverage rather than continue working at a lesser rate and still be forced to pay for healthcare.
As it turns out, this vast expansion of insurance coverage under Obamacare is causing a vast shrinkage in employment and overall employment stability. It began with many small companies having to directly cut employees in response to rising premiums and coverage mandates and continued with employees being self-driven out of the workforce due to government-imposed incentives that encourage them not to work.