If you said "the Supreme Court-approved tax that is Obamacare", then give yourself a pat on the back.
As we broke down earlier, Q1 GDP rose at a disappointing 1.5% CAGR, rising to $16.394 trillion in chained dollars, an increase of $61 billion, and a modest annual increase of just 2% compared to Q3 2014, the lowest Y/Y increase since the 1.7% recorded in Q1 2014.
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Yet with most components disappointing, growth had to come from somewhere. So where did it come from?
The answer: of the $60.6 billion annualized increase, the biggest contributor came from one specific spending category which accounted for $18.2 billion of this, or 30% of the total.
That "category" is highlighted in the chart below.
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And so, for the 5th consecutive quarter, Obamacare once again comes to the "rescue" of the US economy.
Now if only all other taxes could be added as GDP growth line items, then the US economy would be well and truly flying.
Finally, to those asking how the collapsing U.S. middle class spent a whopping $10.4 billion on Recreational goods and vehicles in the 3rd quarter, please don't ask * we have no idea.
