For years, hospital lobbyists have promised that Obamacare’s Medicaid expansion would kick start states’ economies and produce thousands of new jobs. (Expanding welfare always stimulates the economy, right?)
This piece of their Obamacare sales pitch is critical because, according to their calculations, these new jobs will generate the necessary revenue to pay for states’ share of the Obamacare expansion costs. The Arkansas Hospital Association, for example, made a similar guarantee, promising that most of the state’s share would be covered by new tax revenue generated by new jobs.
But now that expansion has been up-and-running for more than two years, the data is starting to paint a clearer picture of the real economic impact. And, believe it or not, Obamacare expansion isn’t living up to the hype.