Obamacare to cut work hours by equivalent of 2 million jobs: CBO

U.S. President Barack Obama has lunch with five supporters of Obamacare at The Coupe restaurant in Washington, January 10, 2014. Photo courtesy of REUTERS

USA: President Barack Obama's healthcare law will reduce American workforce participation by the equivalent of 2 million full-time jobs in 2017, the Congressional Budget Office said on Tuesday, prompting Republicans to paint the law as bad medicine for the U.S. economy.

In its latest U.S. fiscal outlook, the nonpartisan CBO said the health law would lead some workers, particularly those with lower incomes, to limit their hours to avoid losing federal subsidies that Obamacare provides to help pay for health insurance and other healthcare costs.