Jobs Report: 9.8 Million Jobs Created in Private Sector Since Obamacare Passed

image

John Boehner, 2010:

"I believe that the healthcare bill that was enacted by the current Congress will kill jobs in America.”

John Boehner, 2011:

"This health care law … is already destroying jobs in our country. It will continue to destroy jobs in America unless we do something about it.”

Mitch McConnell, 2012:

"[W]e now know that Obamacare has been one of the single biggest drags on job creation since early 2010.”

Mitch McConnell, 2013:

"ObamaCare is already raising costs and eliminating jobs.”

Ted Cruz, Three Days Ago:

"Obamacare is the most destructive, failed law in modern times. It’s the biggest job killer in this country.”

Jobs Report, Today:

Total nonfarm payroll employment increased by 209,000 in July, the same as its average monthly gain over the prior 12 months. In July, employment grew in professional and business services, manufacturing, retail trade, and construction….

Over the past 12 months, the unemployment rate and the number of unemployed persons have declined by 1.1 percentage points and 1.7 million, respectively.

Caclulated Risk, summing up today’s report:

"2014 is on pace to be the best year for employment gains since 1999."

Overall, since Obamacare was enacted in “early 2010” (see Sen. McConnell’s preferred timeframe above), American businesses have added 9.8 million jobs, compared with a loss of 3.6 million private-sector jobs in the decade before Obamacare, and the unemployment rate has dropped more than 3.5 percentage points.

image

In addition to the jobs comeback under Obamacare, millions of lives have been directly impacted by the expansion of health coverage and other benefits of the law:

New Study: 10.3 million gained health coverage during the Marketplace’s first annual open enrollment period

According to the authors’ findings, the uninsured rate for adults ages 18 to 64 fell from 21 percent in September 2013 to 16.3 percent in April 2014. After taking into account economic factors and pre-existing trends, this corresponded to a 5.2 percentage-point change, or 10.3 million adults gaining coverage…. [T]he results do not include the more than 3 million young adults who gained health insurance coverage through their parents’ plans.

Over 8.2 million seniors have saved more than $11.5 billion on prescription drugs since 2010

Since the enactment of the Affordable Care Act, out-of-pocket savings on medications for people with Medicare prescription drug coverage continues to grow. More than 8.2 million seniors and people with disabilities with Medicare have saved over $11.5 billion on prescription drugs since 2010 as a result of discounts in the donut hole and rebates in 2010, for an average of $1,407.

Moreover, the law has strengthened Medicare by helping to extend the life of the trust fund by 13 years:  

Good News For Boomers: Medicare’s Hospital Trust Fund Appears Flush Until 2030

Medicare’s Hospital Insurance Trust Fund, which finances about half the health program for seniors and the disabled, won’t run out of money until 2030, the program’s trustees said Monday. That’s four years later than projected last year and 13 years later than projected the year before the passage of the Affordable Care Act.

And slowing down the growth of health care spending doesn’t just benefit policyholders, it benefits the country’s bottom line:

image

Charts archived at America’s Comeback Decade