Economy

Study: Trumpcare Will Kill Almost 1 Million Jobs

SK Ashby
Written by SK Ashby

According to a study produced by researchers at George Washington University, Trumpcare 2.0 (3.0?) will kill nearly a million jobs over the next 10 years, a majority of which will be lost in the healthcare industry.

But that's only half the story and there's good reason to believe that could be a low-ball figure.

From there, the study said, the problems would spread. Lower employment means fewer people with disposable income to spend on other goods and services. The trickle-down effect would then result in a drag on overall economic output.

"It is likely that the business cycle will eventually slow down again," the report said. "In that event, the AHCA could accentuate job loss and economic contraction. Combined with major increases in the number of uninsured, this could contribute to a period of economic and medical hardship in the US. The AHCA could exaggerate both the highs and lows of the business cycle."

In other words, it would be a miracle if Trumpcare does not cause a recession. My gut says it wouldn't even take 10 years to get there. It seems to me depriving millions of people of affordable health care will have its own profound effect on the greater economy, and unless the Senate's Deathcare bill is significantly different from the House bill, we won't have to wait 10 years to see the consequences.

The CBO estimated that the House bill would results in millions of people losing coverage within the next year.