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Elizabeth Warren Agrees Her Health Plan Could Kill 2 Million Jobs

Job creation under Trump has averaged about 2 million jobs per year.

Elizabeth Warren still has not released a full version of her Medicare-For-All healthcare plan, but she did admit to an important detail, namely that her plan is a job-killer. In a radio interview, the Democratic presidential candidate appeared to accept an estimate that said that Medicare For All could kill as many jobs as have been created in a year under the Trump Administration.

Warren’s comments came during an interview with New Hampshire Public Radio earlier this week when Casey McDermott told her, “An economist at the University of Massachusetts, Amherst, told Kaiser Health News earlier this year that that could result in about two million jobs lost.”

“So, I agree,” Warren responded. “I think this is part of the cost issue and should be part of a cost plan.”

Warren, who is famed for her plans, has been running for president for nine months but still does not have a comprehensive health care plan. The Massachusetts senator has taken flack from rival Democrats because she has not given a firm answer as to how to pay for her healthcare promises.

When asked by McDermott when her plan would be revealed, Warren said, “Soon.”

Warren did not promise that her plan would not raise taxes on the middle class, but did say that middle-class costs would go down. This could mean that she will raise taxes on the middle class while hoping that health care costs, such as premiums and out-of-pocket expenses, will go down enough to offset the tax increase.

“We will see most likely rich people’s costs go up, corporations costs go up, but the costs to middle-class families will go down,” Warren said. “I will not sign any legislation into law for which costs for middle-class families do not go down.”

The two million jobs that would be lost under Medicare For All represent a significant portion of the jobs created during President Trump’s tenure. Based on an annualized estimate for 2019, Labor Department figures show that job creation under Trump has averaged just over two million jobs per year. Trump’s job creation numbers average less than Barack Obama’s post-recession, second-term average of 2.58 million jobs per year, even without slowing job growth due to the trade war.

Pro-business economic policies seem to be in short supply on both sides of the aisle for the next four years. It looks as though voters will have a choice between a new healthcare bureaucracy or an unpredictable trade policy that makes it difficult for businesses to grow and hire. Either course could lead to a recession in the next presidential term.

Maybe it’s time to look beyond the binary party system.

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