In the name of reducing our federal deficit, some members of the Congressional supercommittee would rather risk jobs and the lifesaving healthcare services millions of seniors, people with disabilities and children rely on than raise taxes on the richest individuals and corporations in this country.
We do not ‘need’ to cut Medicaid in order to put Americans back to work. If the proposed cuts Congress is considering become a reality, they will have the exact opposite of the desired effect – resulting in the loss of not just healthcare services but also millions of good-paying jobs.
We’ve created a chart using the Families USA “Jobs At Risk” data to provide you with a clearer picture of how cuts to Medicaid would impact jobs and state economies.
More useful resources and facts after the break on why Medicaid matters for putting Americans back to work.
Why Medicaid Matters For Jobs
The Straight Facts:
- According to the Economic Policy Institute, the Ryan plan will cut Medicaid by $207B resulting in a private sector job loss of 2.1M over the next 5 years.
- In another month of otherwise stagnant job growth, more than 44,000 jobs were created in the healthcare sector.
- Every $1 million in federal Medicaid spending results in 17.1 new jobs. Cutting federal spending on Medicaid, then, means cutting jobs.
- Healthcare continues to be a growing industry. According to the Bureau of Labor Statistics (BLS), 10 of the 20 fastest growing occupations are healthcare related.
- 3.2 million new healthcare wage and salary jobs will be generated between 2008 and 2018, more than any other industry.
- The July 2011 state-by-state “Jobs at Risk” report from Families USA can be found on their website here. Download the PDF report here.
- “The Role of Medicaid in State Economies: A Look at the Research” – This policy brief from the Kaiser Commission on Medicaid and the Uninsured presents the results of 29 studies in 23 states that examine the role Medicaid plays in state and local economies.
- Families USA also released an updated Medicaid Calculator, which allows you to determine the economic impact of proposed Medicaid cuts in your state.
- A February 2011 chartpack (PDF) from the Kaiser Family Foundation (KFF) outlines 5 aspects of the Medicaid program, including how Medicaid brings in federal revenue and helps to create jobs.
- “Of Mice and Medicine: How Investing in Medicaid will Create Jobs” (Colorlines, 9/13/2011)
Much more on how investments in Medicaid create jobs and stimulate the economy on our new campaign page: www.seiu.org/healthcare-jobs.