S&P: Graham-Cassidy Will Cost Half a Million Jobs

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Here is S&P’s estimate of how the Graham-Cassidy health care bill would affect the economy:

580,000 lost jobs and $240 billion in lost economic activity by 2027, ensuring that the GDP growth remains stuck in low gear of around 2% at best in the next decade.

So here’s the nickel summary. Graham-Cassidy is—literally—opposed by every single constituency in the health care industry. That includes doctors, nurses, hospitals, patient advocates, and pharmaceutical companies. It is wildly unpopular, polling around 20 percent approval. The Republican base isn’t clamoring for it. It would leave more than 20 million people uninsured without saving very much money. It would remove protections for pre-existing conditions. And it would cost the country 580,000 jobs, tanking the economy for the next decade.

And yet Republicans are still trying to pass it. Can anyone explain why?

 

HERE ARE THE FACTS:

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ONE MORE QUICK THING:

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As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

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