A congressional report that concludes Americans will cut their work hours to keep their eligibility for Medicaid and Affordable Care Act subsidies is a "devastating" blow to President Barack Obama's signature healthcare plan, Rep. Joe Pitts says.
"It is devastating to Obamacare. [It shows that] by the year 2024, [there will be] 2.5 million fewer people with jobs as a direct result of the law, and it shows the deficit increasing by $1 trillion because of the new entitlement programs," Pitts, a Pennsylvania Republican, told "The Steve Malzberg Show" on Newsmax TV.
"It puts the lie, shows how false the claims were by the administration that Obamacare's good for the economy, good for government finances. It's devastating."
Story continues below video.
According to the non-partisan Congressional Budget Office's annual outlook, the Affordable Care Act could reduce the labor force by the equivalent of 2.5 million workers in 2024.
The outlook says more people will likely reduce their hours, or leave the workforce entirely, so they can stay under the income caps for Medicaid and Obamacare subsidies.
"It clearly would trap Americans in low-wage jobs, maybe it's too expensive to move off of Medicaid, it traps people in poverty. The president says he wants to attack income inequality, but his healthcare law will contribute to the problem over the next decade," Pitts said.
"[House] Speaker [Nancy] Pelosi said that Obamacare would create 400,000 jobs almost immediately and 4 million jobs over time. That's just absurd, and [the] CBO now shows that the opposite is true."
Pitts also said his office gets calls daily from Americans who are losing their healthcare plans.
"[People who have] lost their doctor, some who've lost their hospital, not being in the system, premiums going sky-high, deductibles for families going up $10,000, $15,000," he said.
"That means they have to save that amount of money before they could even utilize their healthcare.
"It's destroying jobs, it's destroying people's lives … There are a lot of people in just survival mode."
See the “Steve Malzberg Show” on Newsmax TV each weekday live by clicking here now.
© 2021 Newsmax. All rights reserved.