If It Wasn’t For Obamacare, Q1 GDP Would Have Been NEGATIVE 1.0%

If It Wasn’t For Obamacare, Q1 GDP Would Be Negative (ZeroHedge, April 30, 2014):

Here is a shocker: for all the damnation Obamacare, which according to poll after poll is loathed by a majority of the US population, has gotten if it wasn’t for the (government-mandated) spending surge resulting from Obamacare, which resulted in the biggest jump in Healthcare Services spending in the past quarter in history and added 1.1% to GDP …

Healthcare Quarterly

… real Q1 GDP (in chained 2009 dollars), which rose only $4.3 billion sequentially to $15,947 billion, would have been a negative 1.0%!

GDP Healthcare

It’s curious how the weather impacted (or rather is used as an excuse to explain) everything but government-mandated healthcare spending in the first quarter.

And of course, for all those who correctly point out that mandatory spending on healthcare took away from spending on every other discretionary item possible, well… you are right.

5 thoughts on “If It Wasn’t For Obamacare, Q1 GDP Would Have Been NEGATIVE 1.0%”

  1. With jobs melting at 250-350K a WEEK, I am not surprised. This is so false……I am so tired of lies about our economy.
    All one has to do now is look at mortgage rates to see the greedy bankers are moving in for the kill. The final batch of Americans, the wannabe greedy guts are on the table for destruction. Since most of them watch US media, and avoid the truth on the Internet, they are sitting there happily believing the housing boom is back on….and their highly mortgaged multiple properties will make them millionaires in fact, instead of on a mendacious spread sheet.
    There are millions of them, all have mortgages higher than the property is worth, and most mortgages are ARMs, adjustable rate mortgages. They went for them because for years they were able to sail on 2-3% mortgage payments, 1.5% on Jumbos (over 700K), now the jumbos have jumped to nearly 6%, the other mortgages are pushing 5% as I write this…….and these rates are for those who never had a late payment…….the rest of them pay more.
    The system is so user unfriendly, your mortgage payment will ding you for a late Macys payment now….it is all consumer unfriendly. Any way to screw the consumer, they are all over it. Worst part, they get away with it all…..our government is so corrupt, it is a joke.
    As much as I despise the wannabe greedy guts, I am sorry to see them get nailed now, too. They actually bought new cars (on credit, of course) and any property they could scheme a way to buy. When the next round of foreclosures begin on these people, more stores and auto agencies will close, and there are far too many empty storefronts now.
    The greedy gut wannabes are those who are hoping to join the greedy guts. It won’t work, because the real greedy guts are worth 10-100X what they claim their worth to be, and they have no debts they cannot pay off immediately if necessary. The wannabes do not.

  2. The Supreme court refuses to stop indefinite detention of US citizens at home or abroad. For those who don’t pay attention, this was Obama’s pet part of NDAA, and the court is upholding this draconian part of NDAA……Obama, the constitutional expert attorney used his specialized knowledge to destroy the ragged remains of the constitution he swore to uphold. It turns my stomach.
    Here is the link. In a nation of law, he would be turned out of office……


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