Working Decline

From the BBC:
"'Obamacare' will reduce US workforce, report finds"

President Barack Obama's health law will cut the US workforce by the equivalent of more than two million workers, a congressional watchdog says.The reductions will begin in 2017 after the law's provisions take full effect, the Congressional Budget Office (CBO) said in its report. Lower-income workers will be hardest hit, limiting their hours to avoid losing federal subsidies. Conservatives and the White House promptly clashed over the findings. In Tuesday's report the nonpartisan CBO said work hours would be reduced by the equivalent of 2.3 million full-time workers by 2021. The watchdog had previously estimated the healthcare law would result in 800,000 fewer full-time workers by 2021.  According to the findings, the Patient Protection and Affordable Care Act, commonly known as Obamacare, will result in a slower rate of employment growth over the next decade.  The congressional analysts say there will be fewer workers because healthcare subsidies would "reduce incentives to work" and pose an "implicit tax on working" for those returning to a job with health insurance.  The report provided fodder for congressional Republicans who are likely to make the health law a major issue in November's midterm elections. "The middle class is getting squeezed in this economy, and this CBO report confirms that Obamacare is making it worse," Republican House of Representatives Speaker John Boehner said in a statement on Tuesday.    The White House said the CBO findings show an impact on labour supply not demand, arguing this does not mean businesses are cutting jobs. The law means people "will be empowered to make choices about their own lives and livelihoods", said White House Press Secretary Jay Carney. He said the law would also allow participants the freedom to retire early or become stay-at-home parents. The healthcare law has been beset by controversy since its October rollout. President Obama's Democratic allies have been trying to distance themselves from the issue in the lead-up to November's elections.

^ Of course Obama and his minions knew about this as they created the law and made sure it goes into full effect after he leaves office. ^

http://www.bbc.co.uk/news/world-us-canada-26041966