05 February 2014 (19:04 UTC-07 Tango 04 February 2014)/04 Rabi ‘ath-Thani 1435/16 Bahman 1392/06 Bing-Yin (1st month) 4712

I’ve been reporting on the tens of thousand of job losses directly related to Obama Care (Affordable Care Act), now the Congressional Budget Office (CBO) not only acknowledges such job losses but says in the next ten years another 2.5-million U.S. citizens will become unemployed or have their work hours drastically reduced!!!

This is far higher than their original estimate of 800-thousand job losses!  The CBO also said the economy will still be so bad that other sectors of the job market will not be able to provide jobs for all those unemployed and underemployed workers!

This is not just health care workers but workers across all job markets!  The CBO straight up blames new taxes created by Obama Care: “The ACA includes a range of provisions that will take full effect over the next several years and that will influence the supply of and demand for labor through various channels. For example, some provisions will raise effective tax rates on earnings from labor and thus will reduce the amount of labor that some workers choose to supply. In particular, the health insurance subsidies that the act provides
to some people will be phased out as their income
rises—creating an implicit tax on additional earnings—
whereas for other people, the act imposes higher taxes on labor income directly. The ACA also will exert conflicting pressures on the quantity of labor that employers demand, primarily during the next few years.”-Appendix C, Labor Market Effects of the Affordable Care Act: Updated Estimates