Economic Recovery in the Balance; Hundreds of Thousands of Jobs Could Be on Chopping Block Without Medicaid Matching Funds
Governors Chris Gregoire (WA), Jim Doyle (WI), and Ed Rendell (PA), and Moody’s Economy.com economist Mark Zandi will hold a telephonic press conference on Wednesday, June 9th at 2pm EASTERN to address the dire economic consequences if Congress fails to restore the Medicaid matching funds that were stripped from the American Jobs and Closing Tax Loopholes Act by the House last week. Economic Policy Institute President Lawrence Mishel will moderate the call.
As the New York Times reported yesterday, more than 30 states have included federal Medicaid matching funds in their current budgets. If those funds are eliminated, state budgets that are already slashed to the bone will face massive additional shortfalls. Those shortfalls translate to hundreds of thousands of jobs lost nationwide, in both the private and public sectors, and the weakening of an already weak economic recovery.
Governors from both parties, representing 42 different states, have told Congress these matching funds are critical to prevent an economic crisis. On tomorrow’s call, Governors Gregoire and Doyle will make clear the cost in their states if Congress does not act, and Zandi will address the impact that inaction could have on the economy overall.
WHO: Governor Chris Gregoire (WA)
Governor Jim Doyle (WI)
Governor Ed Rendell (PA)
Mark Zandi, Chief Economist and Co-founder of Moody’s Economy.com
Lawrence Mishel, President of the Economic Policy Institute
WHAT: Press Conference Call
WHEN: Wednesday, June 7th, 2:00 pm EST