Posted on 04/30/2014 8:49:25 PM PDT by Oldeconomybuyer
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, 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.
(Excerpt) Read more at reuters.com ...
Just think how much wealth is being created. /s/
The carpenters put a floor on the gallows, too.
I thought we were spending too much on healthcare. Now it’s a good thing? That’s a bit much to take.
LOL - what a amazing headline and article all too typical of the drive-by media. Spinning disastrous economic news as a positive - an Obamacare rescue story. Even if true, this is a bubble - and not exactly a stable one at that.
Right - LOL.
Amazing spin. A bunch of forced spending due to Obamacare has “rescued” the economy. Horrific economic news spun into a victory story.
The fact that a government program that is financed by borrowed and printed money, is why GDP is “growing”, says volumes about the true status of the stagnant if not contracting American economy.
Forget the hip boots, you need chest waders to read that jive.
Besides pretending that increased medical costs are a good thing, the article ignores where the money for that increased ObamaCare spending came from. We know with certainly that consumers reduced spending elsewhere to cover their mandatory ObamaCare spending, except for those who didn’t bother paying their ObamaCare premiums (we know this because we have seen those ObamaCare victims interviewed, and they are our neighbors and relatives who tell us face to face what ObamaCare is costing them both in dollars and in lost opportunities to spend on their family needs and desires).
You know a country has really gone in the toilet when it needs to use forced, socialized healthcare to prop up its economy.
"Healthcare spending" from the GOVERNMENT! More on the credit card.
ROFL. Talk about making lemonade when given lemons!
Chin waders would be more like it. We’re up to our neck in bullsh@t!
Just think how much wealth is being created. /s/ <<
Post of the Day!
Seems to me all they are doing is taking your money and my money and giving it to someone else and that leaves you and I less money to spend elsewhere.
These people are idiots, right?
I mean to come up with such a stupid interpretation has to be because they are common core educated even before there was a common core.
Can’t wait for them to tout disease/drought driven meat prices as a boon to save us all....
Government spending is a component of the GDP. If you take that out of the equation, we’re still deep in the Great Recession.
Yesterday my cat puked, robust decrease in our home’s net undigested cat chow deficit growth for the quarter day
Someone quick please email Paul Krugman, my cat prints food.
Obamacare Fed printing and bond buying puts a floor under U.S. economy in first quarter
fixed it.
...by breaking its windows.
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