RomneyCare killed more than 18,000 jobs in Massachusetts

With unemployment the top issue in the country right now, every Republican is trying to angle their platform to appeal to voters. But Mitt Romney, once seen as the frontrunner in the GOP race, has a problem with his near constant pandering to voters on the economy. His healthcare plan, which became the blueprint for ObamaCare, cost Massachusetts 18,000 jobs:

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.
Despite Romney’s vaunted business acumen as a successful venture capitalist, Bachman said the former governor “was a little naive about what would become of the law.”

The Beacon Hill Institute study found that, on average, Romneycare:

•    cost the Bay State 18,313 jobs;

•    drove up total health insurance costs in Massachusetts by $4.311 billion;

•    slowed the growth of disposable income per person by $376; and

•    reduced investment in Massachusetts by $25.06 million.

“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.”

RomneyCare was not only a jobs killer and cost the state billions, it also became a liability for taxpayers at the federal level as the program was “heavily subsidized by billions of dollars in federal aid through a Medicaid waiver program.”

No doubt, this is a sign of things to come at the national level with the passage of ObamaCare. But if Romney gets the nomination, as I’ve said before, this issue is effectively off the table for Republicans. The fact that 82% of Americans oppose the individual mandate, the centerpiece of both Romney and Obama’s plans, would a non-factor.

Spoiler alert: This will be brought up in a GOP debate.

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