Posted on 05/02/2014 4:50:02 AM PDT by SeekAndFind
The White House and Democrat media are happily reporting that a record spike in health care spending saved the economy from shrinking. Wait, wasn't ObamaCare supposed to bend the health cost curve down?
The U.S. economy scarcely grew in the first quarter, expanding a mere 0.1%. This miserable performance was far below the consensus forecast of 1% growth — which alone is embarrassing — and is yet another chapter in the growing book of Obamanomic disasters.
Nevertheless, the administration and its apologists in the media found something to be proud of. "As the U.S. economy teetered on the brink of contraction in the first quarter, one thing stood out. Health care spending increased at its fastest pace in more than three decades," Reuters reported Wednesday night.
"That surge is attributed to the implementation of President Obama's signature health care law, the Affordable Care Act, also known as ObamaCare. Because of ObamaCare, the nation narrowly avoided its first decline in output in three years."
In defending the indefensible, White House spokesman Jay Carney bragged Wednesday that "it was consumer spending on health care that helped drive economic growth in the first quarter."
(Excerpt) Read more at news.investors.com ...
Bump
None of the money went to delivering, or developing,
HEALTHCARE.
The expenditures were taxes, fines, and payments
for nothing but death that is coming from
ObamaCARE/RomneyCARE.
On April 29 Synalloy announced the closing of their Bristol Fab division that fabricates welded stainless steel pipe
The company had been in negotiations with the union since February 15 and were unable to reach an agreement
with union demands for increased wages and the severe increase in benefits from Obamacare it was best to just close the company. Although there is a big backlog of orders, the union demand makes them unprofitable
Stagflation......here we come.....
What ‘saved economy’ on earth has 8% unemployment?
None of the money increased the capital wealth of the nation.
They’re trying to say it’s “6.7%” today.
Almost as good as the late 90’s!
And the Iceberg Saved the Titanic.
Mulatto son saved the economy only by standing over it like a buzzard over the kill and pecking at the bones to swallow any meat that might still remain. Buzzard, vulture...no difference one and the same.
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