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WH/Reuters: Obama-Care Saved Us From A Recession

From Reuters:

Obamacare puts a floor under U.S. economy in first quarter

By Lucia Mutikani | April 30, 2014

WASHINGTON (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.

And never mind that Obama-Care was supposed to drive healthcare spending down. Now that it is making it go through the roof we have to celebrate it. And claim it is saving the economy. (For the record, Ms. Lucia Mutikani from Reuters is probably the worst of the Obama propagandists. Her defense of the administration is downright Pavlovian.)

By the way, is it possible that if all of that money had not been spent on Obama-Care the economy might have grown more? (In fact, you have to wonder if spending on healthcare would have even been counted as part of the US GDP under the ‘old’ GDP standards that every other country uses and the US used until before the 2012 elections.)

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 [sic] 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…

In other words, healthcare spending is the highest in thirty years. And we are supposed to be happy. Hey, maybe in the next months the cost of fuel will triple. (It’s already at a new record.) Can you imagine how that will increase the GDP?

But, to be fair, it is Reuters is only parroting what their masters in the White House are saying.

From the Washington Free Beacon:

WH: Obamacare Drove Weak First Quarter GDP

April 30, 2014

White House press secretary Jay Carney claimed Obamacare helped drive economic growth Wednesday in the White House press conference…

WENDELL GOLER: There are some economists saying this report is an early indication of the impact of “Obamacare” and higher taxes. Do you dispute that?

JAY CARNEY: Well, I haven’t seen those economists because the fact of the matter is, and the GDP report makes it clear, that it was consumer spending on health care that helped drive economic growth in the first quarter…

So that is the regime’s story, and their lickspittle minions in the news media are stuck with it.

This article was posted by Steve Gilbert on Thursday, May 1st, 2014. Comments are currently closed.

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