A revised projection issued on Tuesday by the Congressional Budget Office says that ObamaCare could have a negative impact on the country’s economy, according to Fox News.
The report states that close to 2.5 million workers could leave their full-time jobs over the span of the next 10 years. This would permit employers to get rid of 2.3 million full-time positions from their payrolls.
Experts studying budgets say that because the program offers insurance alternatives, full-time workers might opt to work part-time or not at all and find insurance coverage in the exchange.
Republican Representative Paul Ryan, of Wisconsin, said, “ObamaCare is only making things worse. This costly law is not only pushing government spending to new heights, it is disrupting coverage and leaving millions of Americans worse off.”
The report also notes that jobs could be lost due to employers choosing to hire fewer full-time employees or reducing hours worked by their current staffs.
Orrin Hatch, a Republican Senator from Utah on the Senate Finance Committee, said the report is “A direct threat to the long-term health and prosperity of our nation, this law must be repealed. Its impact and consequences are too great.”
Ryan continued with, “This costly law is not only pushing government spending to new heights; it is disrupting coverage and leaving millions of Americans worse off.”
White House spokesman Jay Carney released a statement that said, “At the beginning of this year, we noted that as part of this new day in health care, Americans would no longer be trapped in a job just to provide coverage for their families, and would have the opportunity to pursue their dreams,” he said. “This CBO report bears that out, and the Republican plan to repeal the ACA would strip those hard-working Americans of that opportunity.”
The latest report is an increase in jobs lost from an original estimate of 650,000.New Report States ObamaCare to Cause 2.5 Million Lost Jobs by Andrew Ostler