Earlier this week the Congressional Budget Office released a report on the U.S.economic outlook. The report had two appendices on the Affordable Care Act.
The second of these addressed the fact that many Americans will voluntarily work fewer hours. Retirements may also occur earlier because people won’t be forced to work just to keep their health insurance.
The report noted that the number of hours worked will decline between 1.5 to 2%. It went on to say this reduction in hours “...represents a decline in the number of full-time-equivalent workers of about 2.0 million.”
Eric Cantor then posted this on his Twitter account: “Under Obamacare, millions of hardworking Americans will lose their jobs and those who keep them will see their hours and wages reduced.”
Huh?
* I should note that I don’t tweet, but you knew that. I learned about Cantor’s reading comprehension problem in Paul Krugman’s column entitled “Health, Work, Lies.” I prefer to be more charitable to Rep. Cantor. I just think he’s stupid.
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