I’m sure there will be many moments from today’s health-care summit that will be worthy of clipping and saving, but this one from our new colleague Greg Hengler may be the strangest one of all. In arguing for the current version of ObamaCare, whatever that is at the moment, Nancy Pelosi claims that it will create four million jobs — or nearly half of all the jobs lost over the last two years:
Let’s put this in perspective. The health-care sector already employs 14.3 million people. The Bureau of Labor Statistics projects that this sector will add 3.2 million more people in the next eight years, thanks to an aging population. It can do that now because it doesn’t operate under price controls that will come as part of the ObamaCare bill. If Congress passes a bill that forces smaller payments to doctors and hospitals, that will actually impede hiring to meet the demand — and that is exactly what “bending the cost curve downward” means.
Pelosi also claims that passing the House version of ObamaCare would add 400,000 new jobs immediately. Where? Well, those would be the people that the government would have to hire to run their exchanges, manage the federal public option, and enforce individual mandates, among other ObamaCare initiatives. It’s a bureaucratic expansion, the kind of “jobs bill” that will further burden the private sector.