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
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
“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.