Thursday, May 01, 2014

The nice thing about having a Democrat in the White House is that there is never any bad news!

Wasn't one of the purposes of Obamacare supposed to be that it would slow down healthcare spending?

Well, it's failed in that, also, but now, we are told, that's a good thing.

WASHINGTON, April 30 (Reuters) - As the U.S. economy teetered on the brink of contraction in the first quarter, one thing stood out. Healthcare spending increased at its fastest pace in more than three decades.

That surge is attributed to the implementation of President Barack Obama's signature healthcare law, the Affordable Care Act, also known as Obamacare. Because of Obamacare, the nation narrowly avoided its first decline in output in three years.

"GDP growth would have ... been negative were it not for healthcare spending," said Harm Bandholz, chief economist at UniCredit Research in New York.

Healthcare spending increased at a 9.9 percent annual rate, the quickest since the third quarter of 1980, and it contributed 1.1 percentage points to GDP growth.//

So, if Obamacare wasn't a complete failure, then Obama's entire economic policy would be a complete failure.


Brit Hume characterizes the article as a joke.

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