Study: RomneyCare Cost Massachusetts More Than 18,000 Jobs
Former Massachusetts Governor Mitt Romney’s signature health care reform initiative, which later became a model for ObamaCare, cost the Bay State more than 18,000 jobs, according to a new study.
The Bay State’s controversial 2006 universal health-care plan — also known as “Romneycare” — has cost Massachusetts more than 18,000 jobs, according to an exclusive blockbuster study that could provide ammo to GOP rivals of former Gov. Mitt Romney as he touts his job-creating chops on the campaign trail.
“Mandating health insurance coverage and expanding the demand for health services without increasing supply drove up costs. Economics 101 tells us that,” said Paul Bachman, research director at Suffolk University’s Beacon Hill Institute, the conservative think tank that conducted the study. The Herald obtained an exclusive copy of the findings.
“The ‘shared sacrifice’ needed to provide universal health care includes a net loss of jobs, which is attributable to the higher costs that the measure imposed,” said David Tuerck, the institute’s executive director.
The study also found that RomneyCare resulted in health insurance cost increases of more than $4.3 billion and suppressed potential outside economic investment by more than $250 million over the past five years.
Additionally, Beacon Hill disagrees with Romney’s insistence that RomneyCare is totally different than ObamaCare. Both are quite similar, and aspects of ObamaCare were actually modeled on Romney’s plan.
“We think it’s very pertinent and very similar to the health-care law that was passed nationally — it’s a case study,” Bachman said. “This is what happened in Massachusetts, and this is what can be expected from the national health-care act.”
To this day Romney has refused to apologize for his health care clusterfark. Instead, he denies connections and insists what he did was totally different than what Obama did. His claim just doesn’t hold up. RomneyCare and ObamaCare are cousins at best, sisters at worst.
Romney passed big government health care legislation because it was the popular thing to do. Now he says he opposes big government health care legislation, and it just so happens that that is now the popular thing to do. Where does Mitt Romney stand on health care? Depends on polling and for which office he’s running, apparently.