New Study: ObamaCare would destroy up to 700,000 jobs in ten years

Remember "Jobs, jobs, jobs"?  That's what Obama and the Democrats told us they were going to focus on a few months ago after that big upset win by Scott Brown in Massachusetts, (after he campaigned almost exclusively against ObamaCare).

Well not only have they not changed their focus to jobs, we've spent another two months mired in debating their health care takeover scheme.  And now comes a study from Americans for Tax Reform and the Beacon Hill Institute that projects ObamaCare would cost the economy around 700,000 jobs by 2019.

Nancy Pelosi, the Speaker of the House of Representatives, has urged
passage of the massive health reform plan moving through Congress as a
way to create up to 400,000 jobs.  Speaker Pelosi bases her claim on a
report by the Center for American Progress (CAP) in which the Center
estimates that the Patient Protection and Affordable Care Act (PPACA)
would create 250,000 to 400,000 jobs per year over 10 years.

This estimate by CAP amounts to a hurried effort to add academic
heft to the claim that national health care reform offers a collateral
benefit in the form of an economic “stimulus.” It turns out, however,
that its methodology, stripped of unsupportable claims about savings in
health care costs, shows just the opposite of what CAP intended. PPACA
is a job killer, not a job creator.

Using the CAP methodology, we find that the bill would destroy a
total of 120,000 to 700,000 jobs by 2019, a far cry from the number
suggested by leading advocates.

CAP’s claim about job creation rests on its assumption that various
developments ensuing from passage of the bill – upgrades in medical
technology, the promotion of preventive care and the reduction in
administrative costs – would save $683 billion over ten?years and thus
set in motion new incentives for firms to create jobs. The trouble is
that the claimed costs savings are at odds with estimates from both
Congress and the Executive Branch, which, together, are responsible for
considering and ultimately implementing the legislation.

There is no evidence that the projected savings proposed by the
Obama administration, particularly in areas such as preventive care,
would ever materialize.
The literature cited by proponents is
speculative at best. Also, there is no guarantee that the
administration would be successful in lowering insurance premiums while
expanding coverage, without limiting access to health care.  …

In other words, ObamaCare could equal 700,000 lost jobs, jobs, jobs.


TAKE ACTION: Contact your members of Congress and tell them to say NO to ObamaCare!


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