Pelosi’s 4 Million ObamaCare Jobs Are Nowhere to Be Seen

October 16, 2012

Pelosi’s 4 Million ObamaCare Jobs Are Nowhere to Be Seen

Instead of Creating Jobs Like Democrats Promised, ObamaCare’s Tax Hikes Are Destroying Jobs and Sending Them Overseas

Democrat Leader Nancy Pelosi famously promised that ObamaCare would create “4 million jobs in the life of the bill.”
Nearly three years after Democrats rammed through their government healthcare takeover, those jobs are nowhere to be seen. To the contrary, ObamaCare is destroying jobs and making life more difficult for job creators.
In addition to destroying jobs at home, ObamaCare is shipping jobs overseas to countries like China.

Democrat Leader Nancy Pelosi famously promised that ObamaCare would create “4 million jobs in the life of the bill”:

PELOSI PROMISED OBAMACARE WOULD CREATE 4 MILLION JOBS: OBAMACARE WILL “CREATE 4 MILLION JOBS IN THE LIFE OF THE BILL AND DOING ALL OF THAT BY SAVING THE TAXPAYER $1.3 TRILLION DOLLARS.” (Speeches, Office of Democratic Leader Nancy Pelosi, 3/22/2010)

PELOSI SAID GOVERNMENT TAKEOVER OF HEALTHCARE WOULD CREATE “4 MILLION JOBS – 400,000 JOBS ALMOST IMMEDIATELY”: “It’s about jobs. In its life, it [the health bill] will create 4 million jobs — 400,000 jobs almost immediately.“(“Pelosi: Health Reform Will Create 400,000 Jobs ‘Almost Immediately,’ Real Clear Politics, 2/25/2010)

OBAMA: HEALTH CARE BILL “CRITICAL STEP IN REBUILDING OUTR ECONOMY”: “We know that reforming our health insurance system will be a critical step in rebuilding our economy.” (“Weekly Address: President Obama Explains How Health Insurance Reform Will Strengthen America’s Small Businesses,” The White House, 10/3/2009)

Nearly three years after Democrats rammed through their government healthcare takeover, those jobs are nowhere to be seen. To the contrary, ObamaCare is destroying jobs and making life more difficult for job creators:

STUDY: OBAMACARE REGS HAVE ALREADY COST $27.6 BILLION, KILLED 18,000 JOBS: “Fully implementing Obamacare regulations have already cost the U.S. economy $27.6 billion and more than 18,000 jobs according to a new study released today. Just the top ten most expensive regulations have cost $24.4 billion, according to the new non-partisan and independent American Action Forum (AAF) report.” (Conn Carroll, “Study: ObamaCare Regs Have Cost $27.6 Billion, Killed 30,000 Jobs,” The Washington Examiner, 10/9/2012)

DATA BASED ON OBAMA ADMINISTRATION’S OWN ESTIMATES: (Conn Carroll, “Study: ObamaCare Regs Have Cost $27.6 Billion, Killed 30,000 Jobs,” The Washington Examiner, 10/9/2012)

DEMOCRATS “ESSENTIALLY CONCEDING THE FACT THAT [OBAMACARE] WILL PLACE BILLIONS OF DOLLARS IN REGULATORY BURDENS ON THE PRIVATE SECTOR”: “By looking only at the Administration’s own numbers, they are essentially conceding the fact that the ACA will place billions of dollars in regulatory burdens on the private sector and further strain states’ budgets. With still 15 months until full implementation there’s sure to be more regulatory costs.” (Conn Carroll, “Study: ObamaCare Regs Have Cost $27.6 Billion, Killed 30,000 Jobs,” The Washington Examiner, 10/9/2012)

“OLIVE GARDEN, RED LOBSTER PUTTING MORE WORKERS ON PART-TIME BECAUSE OF OBAMA HEALTH CARE LAW”: (“Olive Garden, Red Lobster Putting More Workers on Part-Time Because of Obama Health Care Law,” Associated Press, 10/10/2012)

DARDEN RESTAURANTS, WHICH OWNS OLIVE GARDEN AND RED LOBSTER, OWNS MORE THAN 2,000 RESTAURANTS IN THE U.S. AND CANADA AND EMPLOYS 180,000 WORKERS: (“Olive Garden, Red Lobster Putting More Workers on Part-Time Because of Obama Health Care Law,” Associated Press, 10/10/2012)

UBS RESEARCH: OBAMACARE IS “ARGUABLY THE BIGGEST IMPEDIMENT TO HIRING”: (“Great Suppression II,” UBS Research, Pgs.1, 5, 9/19/2011)

JOB-DESTROYING OBAMACARE TAX HIKES ARE ON THE WAY:

CBO: $1 TRILLION IN OBAMACARE TAX HIKES OVER 2013-2022: (Douglas Elmendorf, “Letter to the Honorable John Boehner,” Congressional Budget Office, 7/24/2012, p.6)

NFIB STUDY: 150K SMALL BUSINESS JOBS COULD BE DESTROYED BY OBAMACARE’S HEALTH INSURANCE TAX: (“NFIB Research Foundation Study: Health Insurance Tax to Cost 125,000 to 249,000 Private-Sector Jobs,” NFIB, 11/9/2011)

AT LEAST 14,500 JOBS OR AS MANY AS 47,000 JOBS COULD BE DESTROYED BY OBAMACARE’S HEART ATTACK TAX: (Michael Ramlet, Robert Book and Han Zhong, “The Economic Impact of the Medical Device Tax,” American Action Forum, 6/4/2012)

13,303 SMALL- TO MEDIUM-SIZE MEDICAL DEVICE FIRMS IN U.S., OR 91% OF ALL MEDICAL DEVICE COMPANIES COULD BE AFFECTED: (Michael Ramlet, Robert Book and Han Zhong, “The Economic Impact of the Medical Device Tax,” American Action Forum, 6/4/2012)

INTERNATIONAL FRANCHISE ASSOCIATION: “3.2 MILLION JOBS AT FRANCHISE BUSINESSES CONTINUE TO BE PUT AT RISK”:(“High Court Ruling Puts Jobs at Franchise Businesses at Risk,” International Franchise Association, 6/28/2012)

In addition to destroying jobs at home, ObamaCare is shipping jobs overseas to countries like China:

DEMOCRATS’ MEDICAL DEVICE TAX IS SENDING JOBS TO CHINA:

STUDY: OBAMACARE MEDICAL DEVICE TAX WILL SEND JOBS TO CHINA AND INDIA: “The United States is the world’s leading exporter of medical devices, and each new industry job adds more than four to the overall U.S. economy. An industry report claims that 43,000 U.S. jobs will be lost because of the tax, many of them to foreign countries such as India and China, where labor, taxes and raw materials are cheaper. That’s more than 10 percent of the nation’s 422,000 medical-device workers.” (Tony Pugh, “Medical Device Makers Push Congress to Repeal Excise Tax,” McClatchy News, 9/22/2011)

FORMER SENATOR BAYH (D-IN): PRODUCTION OF MEDICAL DEVICES MOVING TO EUROPE AND ASIA, KILLING AMERICAN JOBS: “As a result of the looming device tax, production is moving overseas, good jobs are going to Europe and Asia, and cutting-edge medical devices will now be produced elsewhere for import into the U.S.” (Evan Bayh, “Obamacare’s Tax Raid On Medical Devices,” Wall Street Journal, 9/28/2012)

JOBS HAVE ALREADY BEEN OUTSOURCED DUE TO THE MEDICAL DEVICE TAX:“Cook Medical is no longer planning to open a U.S. factory a year. Boston Scientific, planning for a more than $100 million charge against earnings in 2013, recently built a $35 million research and development facility in Ireland and is building a $150 million factory in China. (Capital goes where it is welcome and stays where it is well-treated.) Stryker Corp., based in Michigan, blames the tax for 1,000 layoffs. Zimmer, based in Indiana, is laying off 450 and taking a $50 million charge against earnings. Medtronic expects an annual charge against earnings of $175 million.” (George Will, “Taxing Jobs Out of Existence,” The Washington Post, 5/9/2012)

MEDICAL DEVICE ASSOCIATION SAID OBAMACARE’S MEDICAL DEVICE TAX COULD FORCE “43,000 JOBS OVERSEAS”: “The Advanced Medical Technology Association (AdvaMed) released a report Wednesday that says device-makers might ship 43,000 jobs overseas once the tax takes effect in 2013.” (Sam Baker, “Device-Makers Say Tax Will Cost 43,000 U.S. Jobs,” The Hill‘s ” Health Watch,” 9/7/2011)

40% OF MEDICAL DEVICE COMPANY LEADERS EXPECT TO RESORT TO LAYOFFS:“According to the survey of 190 financial executives from the medical device manufacturing industry, 40 percent of respondents said their companies are already contemplating actions such as price increases and cost reductions, including possible layoffs, as a way to stay competitive.” (Chris Reidy, “KPMG Survey: New Tax Could Hit Medical Device Companies Hard,” The Boston Globe , 4/18/12)

WELCH ALLYN: 10% OF WORKFORCE WILL BE CUT, JOBS WILL MOVE TO MEXICO: (Charley Hannagan, “Some Welch Allyn Accounting Jobs Will Move to Mexico,” The Syracuse Post-Standard, 9/11/2012)

OBAMACARE’S MEDICAL DEVICE TAX IS THE CAUSE FOR THIS OUTSOURCING TO MEXICO: “The moves are meant to prepare Welch Allyn to address the new ‘onerous’ U.S. Medical Device Tax scheduled to take effect next year under the Affordable Care Act, the company said.” (Charley Hannagan, “Some Welch Allyn Accounting Jobs Will Move to Mexico,” The Syracuse Post-Standard, 9/11/2012)

IT’S NOT THE ONLY PART OF OBAMACARE SENDING JOBS OVERSEAS:

OBAMACARE’S MEDICAL LOSS RATIO MANDATE COULD FORCE EMPLOYERS TO “MOVE MORE JOBS TO CHEAPER-WAGE COUNTRIES”: “Moreover, the health care reform law could prod insurers to move more jobs to cheaper-wage countries. The new law requires companies to spend 80% to 85% of premiums on medical care, limiting the amount available for administrative expenses.” (Don Lee, “Worries Grow As Health Care Firms Send Jobs Overseas,” Los Angeles Times, 7/25/2012)

OBAMACARE “MAY BE A CATALYST FOR NEW FORMS OF OUTSOURCING”:“The Affordable Care Act, by increasing the number of people in the health care system and changing the way delivery is funded, may be a catalyst for new forms of outsourcing.” (George Lauer, “Outsourcing May Grow As Health System Evolves,”California Healthline, 8/2/2012)

Pelosi’s 4 Million ObamaCare Jobs Are Nowhere to Be Seen http://ow.ly/euJGR#iwantrepeal