The cost of Obamacare repeal? 2.6 million jobs lost

[DonViejo]

INTERNATIONAL BUSINESS TIMES
07 JUL 2017 AT 07:13 ET

he Senate Trumpcare bill would not only remove around 22 million people from insurance coverage, it could cost about 2.6 million jobs nationwide in 2019, rising to almost 3 million by 2021.

This estimate on job shortfalls was done in a study by public health analysts at George Washington University, which said around a million jobs would be lost in the healthcare sector alone.

"Repealing key parts of the ACA could trigger massive job losses and a slump in consumer and business spending that would affect all sectors of state economies," said Leighton Ku, director of the Center for Health Policy Research and professor at the Milken Institute School of Public Health at the University, CNBC reported.

The report examined the economic consequences of repealing two key elements — federal premium tax credits that help low and middle-income Americans afford insurance policies and federal payments to states for expansions of Medicaid eligibility for low-income adults — of Affordable Care Act by the Trump administration.

more
https://www.rawstory.com/2017/07/the-cost-of-obamacare-repeal-2-6-million-jobs-lost/

[exboyfil]

1. I have been beating this drum

since the $100B/yr removed from healthcare (Medicaid cuts to fund the investment and higher income tax reductions) was first announced. The only place this money is going to come from is the states which do not have the ability to tax investment income in the fashion of the federal government (you can always flee to the lowest tax state).

The 54-64 year olds paying the higher premiums is not going to cover it. They don't have the money either.