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If It Wasn't For Obamacare, Q1 GDP Would Be Negative
Here is a shocker: for all the damnation Obamacare, which according to poll after poll is loathed by a majority of the US population, has gotten if it wasn't for the (government-mandated) spending surge resulting from Obamacare, which resulted in the biggest jump in Healthcare Services spending in the past quarter in history and added 1.1% to GDP ...
... real Q1 GDP (in chained 2009 dollars), which rose only $4.3 billion sequentially to $15,947 billion, would have been a negative 1.0%!
It's curious how the weather impacted (or rather is used as an excuse to explain) everything but government-mandated healthcare spending in the first quarter.
And of course, for all those who correctly point out that mandatory spending on healthcare, also known as malinvestment, took away from spending on every other discretionary item possible, well... you are right.
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So according to the article we are supposed to like ObaMao Care because it supposedly added to GDP? Well big deal.
GDP is a farce.
It counts the money the government spends at least twice. It counts it once as 'income' when a private company earns it. It counts it again when the government taxes it and spends it.
Can't have it both ways. The money is either product to the original private company or it is taxes, counting it both times is duplicative.
IF it wasn't for Obamacare.....Q1 GDP would be 4%
WTF is wrong with the headline writer today???????
A war will boost GDP. "Turchinov admitted that Kiev simply cannot get the situation in the rebellious eastern regions under control and reiterated earlier accusations, saying some people in law enforcement “are cooperating with terrorist organizations,” the name Kiev authorities use to refer to anti-government protesters who are seizing government buildings in eastern Ukraine."
The USA has obvious national security interests at stake in this. We must act to defend the American people from terror.
Maybe we can enroll all of them in Ocommiecare. That'll teach em a lesson they'll never forget.
So a tax that we are forced to adhere to is the only thing making the economy expand. Well I suppose the fact that ACA will be insolvent without the government doubling down on spending in the next 18 months is not all bad since it will look good on a chart.
Just think of those lobbyists dollars from medical community lining those politicans pockets!
GDP, what's that? In real news:
you spelled bassetbawl rong
Any lawmaker who in any way supported ObamaCare needs to be voted out of existence in November.
John Roberts is laughing all the way to the country club.
Litmus tests for incumbents!? Now dat's rayciss.
The GDP numbers are still a lie. GDP is in negative territory.
https://www.youtube.com/watch?v=wx87Hv2WdwY
If the government pays you $1000 to go out and dig a hole you just contributed $1000 to the GDP. If the government then pays you another $1000 to go out and fill that hole you just contributed another $1000 to GDP. Therefore GDP numbers as contrived by the government are a lie. Energy consumption is a better measure of GDP and it is decreasing.
Crazy. Probably the whole reason for it to begin with lol.
Once Obamacare "blossoms", that should add another 5% to GDP. Bullish!
I thought the GDP number would give us a great chance to BTFD but, alas, I was disappointed because there was very little dip. People seem to have wised up enough that BTFATH must be the correct strategy now!
More proof that not all government spending is beneficial.
Obama needs to boost the GDP before the election.
More people on welfare will do the trick.
Enlist all those in Mexico and South America. With them on US welfare it will really boost the GDP and Wall Street bonuses.
What surge? Dollars to donuts the "surge" is just a change in reporting. Like for the first time all health care premiums are broken out as spending, or medicaid (100% government money) is now counted as health care spending, or something.
Oh Janet, won't you buy me, a Mercedes Benz.
Articles like this one always compel me to open the safe and massage my shiny.
The Moar you Print, the Moar you Spend, the Moar you Save ! It's so easy a plantation slave working for the LA Clippers can do it ! Hail Robert Mugabe !