CBO: Obamacare Work Reductions More Than Expected

Obamacare will reduce the hours Americans work by the equivalent of 2 million full-time jobs, according to the Congressional Budget Office. Harvard economics professor Greg Mankiw noted on his blog that this is most likely a modest assessment, and even more house of work will be lost. “This is a choice on a part of workers. I have no doubt, if for example, we got rid of Social Security, and Medicare, there are many 95-year-olds who would choose to work more to avoid potentially starving or to give themselves the opportunity to get health care, I don’t think anyone would say that’s a compelling argument to eliminate Social Security and Medicare,” Jason Furman, chairman of the Council of Economic Advisors said at the White House Tuesday.

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