CBO Projects 2 Million Fewer Jobs Under ObamaCare

ObamaCare is expected to cost the U.S. workforce a total of 2 million jobs over the next decade, Congress’s nonpartisan scorekeeper said Monday.

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).

“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.

Republicans were quick to seize on the report, which provides new analysis of a previously mentioned figure.

“When the President’s health law hurts the labor force at the same time it increases healthcare premiums and taxes, it’s clear the law is not working for the American people,” said Senate Finance Committee Chairman Orrin Hatch (R-Utah.).