President Elect Donald Trump's Health Care Policies To Cause Serious Damage To US Economy? Jobless Americans To Increase?
U.S. President-elect Donald Trump's reformation of the nation's health policies has created such a hype. As much as it is going to affect the health care, it is equally disturbing to the economic infrastructure. Economists are predicting a direct impact of Trump's policies on all sectors, specially investments from foreigners.
According to Bloomberg, health care has created numerous opportunities in the form of more than two million jobs and has been a vital factor in labor market growth since 2009. But Trump's choice of Health Secretary, Georgia Representative Tom Price has been marked as controversial due to his views and statements. Price is in strong favor of repealing Obamacare.
Chief financial economist for Bank of Tokyo-Mitsubishi UFJ Ltd. In New York, Chris Rupkey suggested that in uncertain times like these companies are not likely to make any kind of investment. Goldman Sachs Group Inc. Economist Alec Phillips called the recent trends in job growth "somewhat depressed."
Apart from criticizing the Obamacare health initiatives, Donald Trump has also regarded dangerous for corporations and individuals. But stats have shown an increase in shift employments in comparison with part time jobs under the Affordable Care Act.
New York Federal Reserve researchers have revealed that ACA is a key factor in people's commitment to their jobs. The employer-sponsored benefits created a job lock. According to the Labor Department, the unemployment rate has also lowered significantly to a 4.6 percent. The lowest in the past nine years.
The Salt Lake tribune shared the views of some small business owners, who are calling Trump's policies more profit gaining and are looking forward to it. Earlier, they had to secure insurance of their employees, even if they were students and were already covered in their parents plans.
Business owners said that they were able to hire limited people under Affordable Act Care. Apart from all the debates and predictions, things are yet to be revealed and their impacts on different sectors are still unknown.