700,000 jobs will be lost if Obamacare passes — Hot Air exclusive first look at new study

Once again, one of the Democrat’s false Obamacare claims is being. fact checked.  Nancy Pelosi claimed that passing Obamacare would immediately create 400,000 jobs, which was based on a report by a left-wing advocacy group.

Hot Air has an exclusive first look at a new study that uses the same accounting method that Pelosi’s left-wing group used, but eliminates the fictional cuts to medicare that everyone knows will not happen, and have only been put in the bill to help the CBO score and get the bill passed.

Ed Morrissey of Hot Air:

Now, Americans for Tax Reform and the Beacon Hill Institute have conducted their own study using CAP’s methodology and determined that ObamaCare will destroy jobs, not create them.  Hot Air has an exclusive first look at the BHI executive summary:

Here’s an excerpt of the new report that is on Hot Air:

Once we dismiss purported cost savings such as the proposed Medicare cuts, the job gains produced by the CAP methodology become job losses. We  utilized the same econometric model used by the CAP authors to derive employment effects of PPACA, but with the unsupportable costs savings stripped from the model. We provide two estimates:

1. The first estimate applies the CAP methodology to the CMS estimate that the PPACA would increase national health expenditures by $24.8 billion over the baseline case by 2019. This estimate shows that PPACA would kill 120,000 jobs by 2019.
2. The second estimate applies the CAP methodology to a scenario in which we begin with the CMS estimate but in addition eliminate the $437 billion in Medicare cuts assumed by CAP and then factor in an additional $70 billion in discretionary spending that the CBO indicated would take place under the Bill. The addition of these figures would increase national health expenditures by $148.8 billion in 2019 and thus kill 700,000 jobs by 2019.

Visit Hot Air to see the entire report.