Obamacare repeal costs: 3 million jobs gone, $1.5 trillion in lost gross state

wrath
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Spending less by getting rid of Obamacare could end up costing a whole lot more.

Up to 3 million jobs in the health sector and other areas would be lost if certain key provisions of the Affordable Care Act are repealed by Congress, a new report said Thursday.

At the same time, ending those provisions could lead to a whopping $1.5 trillion reduction in gross state product from 2019 through 2023, according to the study.

“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 George Washington University.

Ku is the lead author of the report, which was issued by the Milken Institute and the Commonwealth Fund.

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The numbers more or less work out. 20 million people spending $500 a month on insurance under Obamacare, 12 months a year and covering the years 2019 to 2023 comes to $480 billion.

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