David Cutler Is Very Unhappy with the Idea of Repealing National RomneyCare

David Cutler:

Repealing Health Care Is a Job Killer: It Would Slow Job Growth by 250,000 to 400,000 Annually: A successful repeal of health care reform would revert us back to the old system for financing and delivering health care and lead to substantial increases in total medical spending. The consequences of this spending increase would be far reaching. It would hurt family incomes, jobs, and economic growth.

Repealing health reform would:

Increase medical spending by $125 billion by the end of this decade and add nearly $2,000 annually to family insurance premiums,

Destroy 250,000 to 400,000 jobs annually over the next decade,

*Reduce the share of workers who start new businesses, move to new jobs, or otherwise invest in themselves and the economy.

This memo will review these effects in more detail with a particular focus on jobs...