WSJ: Obamacare Makes Americans Richer

[Star]

.
Obamacare Just Made Americans Richer Without Anyone Noticing

Kevin Short

03/04/2014



Glenn Beck once said Obamacare would mean "the end of prosperity in America forever." But so far, it turns out President Obama's 2010 health law is actually putting money in Americans' wallets.

To be exact, President Obama's 2010 health law was responsible for about three-quarters of a surprising January rise in U.S. consumer spending and American income growth, according to calculations by the Wall Street Journal.

<snip>

.

 

[oreo]

.
Obamacare Just Made Americans Richer Without Anyone Noticing

Kevin Short

03/04/2014



Glenn Beck once said Obamacare would mean "the end of prosperity in America forever." But so far, it turns out President Obama's 2010 health law is actually putting money in Americans' wallets.

To be exact, President Obama's 2010 health law was responsible for about three-quarters of a surprising January rise in U.S. consumer spending and American income growth, according to calculations by the Wall Street Journal.

<snip>

.

I guess you didn't count on anyone actually READING THE article--- Your linked article states:

To be exact, President Obama's 2010 health law was responsible for about three-quarters of a surprising January rise in U.S. consumer spending and American income growth, according to calculations by the Wall Street Journal.

While not exceptional, the gains were significant: a 0.4 percent rise in consumer spending ($45.2 billion) and a 0.3 percent rise in personal incomes (up $43.9 billion), according to new figures released by the Bureau of Economic Analysis. The growth came in spite of the expiration of unemployment benefits for the long-term unemployed and all that horrible winter weather.

So what exactly did the Obamacare rollout do to cause such a rise? For one, it expanded the Medicaid program, a critical and highly controversial aspect of the law, by adding up to a $19 billion in benefits in January. On top of that, health care enrollees additionally received another near $15 billion in the form of tax credits as a result of the rollout, according to the BEA.

Together the two changes have freed up many Americans to spend money that would have gone towards health care premiums on goods and services instead.

The benefits of the Obamacare rollout thus far also appear to throw cold water on the idea that the law will hamper the economy -- especially when considering last January. Back then, both consumer spending and personal incomes had their worst month in years and fell by several percentage points after the battle in Congress over the so-called "fiscal cliff" ended with recession-era payroll tax cuts not being extended.

Overall, that tax hike resulted in a $700 per worker tax increase on average, according to the Tax Policy Center. Who's killing the economy again?

So who in the F... do you think is paying for 15 billion in the form of tax credits, and another 19 billion for expanded Medicade for the month of January alone? Americans are through HIGHER Obamacare premiums is the answer to that one. There are millions of Americans that don't qualify for Medicade or tax subsidies--their premiums are through the roof--so as to not break Obama's other promise--"that this won't add a single dime to the deficit." So while the people who qualify for Medicade and tax subsidies for their Obamacare--those that have to pay higher premiums because they get no subsidy's have less expendable cash in their pockets to spend.

It's really not ROCKET SCIENCE--

 

[Star]

.
Obamacare Just Made Americans Richer Without Anyone Noticing

Kevin Short

03/04/2014



Glenn Beck once said Obamacare would mean "the end of prosperity in America forever." But so far, it turns out President Obama's 2010 health law is actually putting money in Americans' wallets.

To be exact, President Obama's 2010 health law was responsible for about three-quarters of a surprising January rise in U.S. consumer spending and American income growth, according to calculations by the Wall Street Journal.

<snip>

.

I guess you didn't count on anyone actually READING THE article--- Your linked article states:

To be exact, President Obama's 2010 health law was responsible for about three-quarters of a surprising January rise in U.S. consumer spending and American income growth, according to calculations by the Wall Street Journal.

While not exceptional, the gains were significant: a 0.4 percent rise in consumer spending ($45.2 billion) and a 0.3 percent rise in personal incomes (up $43.9 billion), according to new figures released by the Bureau of Economic Analysis. The growth came in spite of the expiration of unemployment benefits for the long-term unemployed and all that horrible winter weather.

So what exactly did the Obamacare rollout do to cause such a rise? For one, it expanded the Medicaid program, a critical and highly controversial aspect of the law, by adding up to a $19 billion in benefits in January. On top of that, health care enrollees additionally received another near $15 billion in the form of tax credits as a result of the rollout, according to the BEA.

Together the two changes have freed up many Americans to spend money that would have gone towards health care premiums on goods and services instead.

The benefits of the Obamacare rollout thus far also appear to throw cold water on the idea that the law will hamper the economy -- especially when considering last January. Back then, both consumer spending and personal incomes had their worst month in years and fell by several percentage points after the battle in Congress over the so-called "fiscal cliff" ended with recession-era payroll tax cuts not being extended.

Overall, that tax hike resulted in a $700 per worker tax increase on average, according to the Tax Policy Center. Who's killing the economy again?

So who in the F... do you think is paying for 15 billion in the form of tax credits, and another 19 billion for expanded Medicade for the month of January alone? Americans are through HIGHER Obamacare premiums is the answer to that one. There are millions of Americans that don't qualify for Medicade or tax subsidies--their premiums are through the roof--so as to not break Obama's other promise--"that this won't add a single dime to the deficit." So while the people who qualify for Medicade and tax subsidies for their Obamacare--those that have to pay higher premiums because they get no subsidy's have less expendable cash in their pockets to spend.

It's really not ROCKET SCIENCE--

And yet-----and yet for all your whining, twisting and turning, the article you choose to quote from concludes: Together the two changes have freed up many Americans to spend money that would have gone towards health care premiums on goods and services instead.

The benefits of the Obamacare rollout thus far also appear to throw cold water on the idea that the law will hamper the economy -- especially when considering last January. Back then, both consumer spending and personal incomes had their worst month in years and fell by several percentage points after the battle in Congress over the so-called "fiscal cliff" ended with recession-era payroll tax cuts not being extended.

Overall, that tax hike resulted in a $700 per worker tax increase on average, according to the Tax Policy Center. Who's killing the economy again?



"especially when considering last January"
.