Paul Krugman on Tuesday raged against the American Health Care Act, the GOP's proposed healthcare bill, arguing it would potentially be devastating for those who voted for President Donald Trump.
The Nobel laureate and New York Times economics columnist said in a series of tweets that the AHCA, which has become alternatively known as Ryancare (for House Speaker Paul Ryan) or Trumpcare, would make healthcare in the individual marketplace more expensive for older Americans. Krugman argued it would amount to a betrayal of Trump's own voters.
"Can we talk about working-class Trump voters for a minute? Will they ever realize or admit how completely they were scammed?" Krugman wrote. "It's not just the fake populism, although that's a big deal. Older working-class voters would take an enormous hit under Trumpcare."
Krugman cited the Congressional Budget Office's analysis, released Monday night, estimating that a 64-year-old making roughly $26,000 annually would see net premiums rise from $1,700 annually under the Affordable Care Act, the healthcare law better known as Obamacare, to $14,600 under the AHCA, which he said was an example of "promises broken."
"But also bear in mind that Trump voters believed they were choosing someone effective, who knew how to get things done," Krugman said. "And here we are. The first and most important legislative initiative is stupid as well as cruel — complete incompetence in drafting and selling."