Automatic Cuts From Debt Committee's Failure Put 194k Healthcare Jobs on the Line
Under the Budget Control Act, the Joint Select Committee on Deficit Reduction must find and recommend $1.2-1.5 trillion in savings by Thanksgiving. Failure on the Congressional committee's part to find the required savings means the enactment of automatic cuts, including a potential 2 percent cut in Medicare payments.
The potential Medicare cut equates to a reduction of approximately $41 billion from 2013-2021 for hospitals. The change could ultimately lead to nearly 93,000 lost jobs by 2013, reaching more than 194,000 lost jobs by 2021, according to the Tripp Umbach report.
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