Fox guest claims "Medicare for All" could cause a recession and "will encourage people to overconsume health care"
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From the May 1 edition of Fox News' Fox & Friends:
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STEVE DOOCY (CO-HOST): First off, just so people understand -- when they hear "Medicare for All," that sounds great because it's like -- it's free health care for everybody, right? I mean, that message is pretty effective.
CHRIS JACOBS (JUNIPER RESEARCH GROUP): Well the old saying is, if you think health care is expensive now just wait until it's free. And you're going to end up paying for it in tax dollars and higher taxes. And it will encourage people to overconsume health care.
DOOCY: Speaking of losing, losing jobs. You said that the statistics are that 1.5 million people who work in hospitals would actually lose their job. Explain that.
JACOBS: Yeah. Basically the single payer would, quote, "save money" by paying hospitals less. Medicare, the current Medicare program, 80% of hospitals incur a loss on their Medicare patients. If they don't have private insurance to cover that gap, they are going to cover hundreds of billions of dollars of losses. They're going to have to lay off workers. You do this in one fell swoop, this would cause a recession just on its own.