The nonpartisan Congressional Budget Office issued a report this morning that finds ObamaCare will cost America roughly 2.5 million jobs through 2024.
According to the Wall Street Journal's Damian Paletta, the "rolling impact of the law will lead to 2 million fewer workers in 2017, 2.3 million in 2021 and 2.5 million through 2024." That will represent a 1.5% to 2.0% reduction in the numbers of hours worked.
At the Washington Times, Stephen Dinan reports that this is "a major jump" in the CBO's projections and suggests ObamaCare's incentives are "driving businesses and people to choose government-sponsored benefits rather than work." In other words, businesses are cutting jobs due to ObamaCare regulations, and the fact that the Obama-economy, thanks in part to ObamaCare, will force millions of Americans to leave the workforce.
According to Dinan, the CBO also said that the inept ObamaCare roll out will result in only six million people signing up through the state-based exchanges, rather than the seven million the CBO originally projected.
I wonder how the Obamacrats are going to spin this one? Trying to convince everyone there is a difference between "people leaving the workforce" and "costing jobs" isn't going to cut it. It's desperate.