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Obamacare economy

December 26, 2013

News flash: President Barack Obama believes in Santa Claus. We can think of no better explanation for his press conference, the last of the year, on Friday....

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(44)

tbonenu

Dec-26-13 7:26 AM

I THINK THE JOURNAL IS WRONG!!!!!

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Auntydem

Dec-26-13 9:45 AM

Another rant from the ironically named Intelligencer.

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japanviking

Dec-26-13 10:30 AM

$800 billion of stimulus was provided. $300 billion in tax cuts and tax credits for individuals, families, and businesses such as the Earned Income Tax Credit, the Making Work Pay tax credit, and the Work Opportunity Tax Credit for businesses hiring veterans. $250 billion paid for a variety of programs in education, infrastructure, and renewable energy, plus many other sectors. $250 billion funded expanded safety-net assistance for low-income and unemployed Americans. Economists overwhelming agree that this government spending kept the unemployment rate lower than it otherwise would have been, according to a survey of distinguished economists conducted by The University of Chicago Booth School of Business. The editorial page of the Journal again lies and misinforms. I very seriously doubt that they know more about the economy and the stimulus spending’s effect on it than the economists at The University of Chicago Booth School of Business who conducted the survey cited.

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TURBO75

Dec-26-13 10:59 AM

For years, the GOP, the Tea Party and The Journal have preached personal responsibility, but for some reason they do not think that concept applies to your health care. The ACA is a bill that tells citizens that they need to take some responsibility for their own well being. The govt. will try to help you find a health care plan and you will be required to pay for all or part of it depending on your income. It is obvious that the rollout of this plan has had more than it's share of problems, but that is due to our reliance on technology. Who hasn't been frustrated trying to get a website to operate the way the providers promise? It was wrong for the Obama administration to make promises that it knew it could not keep, and they are now paying for it. It may take an entire generation for people to accept this bill and take responsibility for their own health care, but it is at least a start.

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JReader

Dec-26-13 11:01 AM

Would a breakthrough be an average annual unemployment rate that finally falls below 8% ?

Could it be total wage income that finally starts to see modest increases instead of the drop seen throughout his first term while we saw the CPI increase by 9.6% during the same time period ? People have been and continued to get squeezed hard by Obama's brand of economic recovery. No wonder those receiving food stamps continue to run at record numbers at nearly 48 million.

When viewed solely on the perspective on what's happened over the last five years anything positive is going to look monumental. When looked at from a historical perspective they will seem trivial.

His first four years never saw an unemployment rate below 8%. You contrast that with both Clinton & Bush who had unemployment rates at 5.2% & 5.3% during their times in office. A 7% or better rate will be treated as a major accomplishment for Obama.

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JReader

Dec-26-13 11:10 AM

Personal responsibility is just that - being mature enough to take care of yourself. This doesn't come by government mandates that require the purchase of a product by force of law. That is about as far away from personal responsibility as you can get. If I'm not responsible enough to take care of myself there is no way having the government do it for me is in any way making me personally responsible. It is nothing more than big brother giving another hand out which they are forcing the truly responsible ones to pay for.

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svensota

Dec-26-13 12:50 PM

If we had only gone the way of the Austrian economic gurus and embraced more austerity. Dang! We could have had a gigantic slumping economy like England or Spain or Iceland.

Comparing Obama's economic numbers to Bush or Clinton's is an exercise in sheer looniness.

Got any idea where the Dow was in January 2009 when President Obama took office? Or, in what condition "W" left the country that chilly morning?

JR, you can join The Journal editorial staff immediately.

Happy New Year fellow optimists.

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Avoice

Dec-26-13 1:17 PM

For the Underwater Basket Weaving degreed crowd, this is what is driving the economy - "The Federal Reserve announced Wednesday it would start to taper its aggressive bond-buying program to $75 billion a month beginning in January, propelling the market to a record close. The FOMC also announced it would lower its monthly long-term Treasury bond purchases to $40 billion and mortgage-backed securities to $35 billion a month, both reductions of $5 billion." Love those stock dividends but buying up bushel baskets for carrying the money to buy a loaf of bread.;<)

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TURBO75

Dec-26-13 2:38 PM

It would be great if everyone was as mature and responsible as JReader, but wishing it will not make it so. Personal responsibility is also what keeps you from robbing a bank or shooting your neighbor, but that doesn't mean we should eliminate all the laws that dictate our behavior. The govt. is not forcing anyone to get health insurance, you are free to opt out. You will pay a fine or a tax, whatever you want to call it and that money will then be used to help cover your emergency room or doctors visit. Hospitals are going to get paid one way or the other, the more people you have involved, the better it is for everyone.

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JReader

Dec-26-13 4:09 PM

Well Sven if anyone should know looniness it'd be you...

I'm sure those 48 million on food stamps are dancing in the streets because their portfolios are doing so great.

I do understand your logic though, Sven. In order to make Obama a success we need to pretend that 8% is the new 5% that way he can stack up to his predecessor and look like an economic guru. If we lower the bar enough even you'd appear to be a genius.

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JReader

Dec-26-13 4:15 PM

Turbo,

What the government is doing is making responsible people pay for the irresponsible. Imagine you get a DWI and I'm forced to pay your fine by the government. That pretty much sums up Obamacare.

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Auntydem

Dec-26-13 6:13 PM

Comparing the situation of getting an illness like cancer or being in an accident and the bills associated with those tragedies, to a DWI and a fine makes no sense.

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JReader

Dec-26-13 6:38 PM

I pay for health insurance so if me or a member of my family get sick and need care I can take care of it. My wife and I decided on a family size we could afford. We have never signed on to pay for a person through their own poor choices and has four other mouths to feed and care for and no means to do it. Our government seems bent on rewarding people for their poor choices and we have to pick up the tab. See how a DWI fits into the picture now, Aunty ? What incentives are left for people to take care of themselves and be responsible if the government is there at every turn to take care of things ? Everyone wants affordable healthcare, that is given. Obamacare does nothing to get us there. It creates just another handout.

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Integrity

Dec-26-13 8:42 PM

JR: don't forget the HUGE handout that Obamacare gives to insurance companies. Forced increased coverages, many for things that have no value to certain groups of people, that they get to charge for in premiums, in which, the government subsidizes the increased premiums. Unless Pres O STILL thinks the insurance companies just have included the extra coverage out of the kindness in their hearts??

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Avoice

Dec-26-13 10:07 PM

Went to pay our quarterly health insurance premium today and read the notice from BCBC. If you have Delta Dental you must have the pediatric dental coverage or the policy will be cancelled. Likewise your current health plan must include pediatric dental coverage. Seems to me to be a duplication for which premiums will be collected.

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TURBO75

Dec-26-13 10:11 PM

All insurance is a handout to a few, at the expense of many, that is how the insurance companies survive. If your family health insurance premium is $10,000 a year, but you have a major medical issue that runs into the hundreds of thousands of dollars, you are using someone else's money. You, JReader, have then become one of those very deadbeats you so despise.

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GopherState

Dec-27-13 1:56 AM

A little financial hardship will only awaken the middle class to demand more of their employers and the rest of the 1%. In the long run, we may see good things starting to happen. Look at all the action against Walmart and McDonald's this year. This is only the beginning. People that vote Republican and Democrat alike are getting sick and tired of seeing all their hard work go unrewarded.

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svensota

Dec-27-13 2:36 AM

JR: Put a blonde wig on your noggin and you could be a Foxy News babe spouting her usual distorted statistics and disinformation. The current unemployment rate is 7% nationwide, not 8%. It has been coming down due to an average gain of 204,000 new jobs per month for the past four months--a robust turnaround.

However, unemployment remains our biggest national problem, largely because Republicans have stymied every attempt to continue stimulus programs that would have employed idle workers. Somehow you GOPpers think that people sitting home, not paying taxes, is a swell way to get the economy rolling again. And, by the way, you won't get those 48 million unhappy souls that you carp about off food stamps until we reach full employment.

Cutting government jobs, incentive programs and giving more to the 1% is your typical GOP bass-ackward way of going about an economic recovery.

Turn around, JR, you're looking a little lumpy and your nose is getting longer.

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JReader

Dec-27-13 8:37 AM

Sven,

Explain in as much detail as you can muster how more stimulus will put all those idled back to work. When there is no demand there is no reason for companies to hire. The only thing Obama wants to do is pump more stimulus into the public sector. We've been there and done that -remember all of those "shovel ready jobs" he was going to create ? Total bust. We don't need more of the same from this guy. Until consumer demand increases we are stuck. Real wages are flat - they have been since he took office. Until households see increases in income we aren't going to move forward. Obama keeps attacking the middle class through tax hikes (ones they ultimately pay for)and his healthcare reform that has also eroded household income. And add to that all the money that's been pumped in to further stymie consumer buying power and we find ourselves in the middle of this big mess. So, let's here your fix Sven ?

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JReader

Dec-27-13 8:53 AM

Sven,

I do realize where the unemployment rate is today. We should all stand and give Obama an ovation because it only took him about 5 years to get the unemployment rate down to where it was when he took office. I'll spare you a response -that's all Bush's fault !!!

I was speaking to his first term previously. You know that time where the unemployment rate hit double digits (Bush's fault !!!) And, where it stayed above 8% for nearly four years (Bush's fault !!!) Face it, Obama has done nothing to fix the economy - take your pick: A.Bush's Fault, B. Republicans Fault, C.Tea Party's Fault.

Please note nothing in the above can be considered to be Obama's fault because after all he is a Democrat and as a Democrat being personally responsible is not part of their character.

How can we ever get behind a guy who doesn't understand what it means to be responsible ? Obama does have two endearing qualities: he gives a good speech and he points his finger toward others...

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Avoice

Dec-27-13 2:21 PM

Turbo75 - your post reflects your need for an intensive need for education in insurance and it's operation.

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middleclassworker

Dec-27-13 3:39 PM

Destroying a building happens much quicker than rebuilding it.

The same applies to an economy. The Republican leadership wasn't finished destroying it when they handed over the keys to the White House. It would have continued to deteriorate and we would have likely experienced a full-blown depression had McCain and even worse, Romney been elected.

The only thing we missed out on is how much better the economy would be if another Clinton was in the White House for the past 6 years.

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GopherState

Dec-27-13 3:45 PM

There are many republicans that want higher unemployment. When corporations have relatively unlimited numbers of people to fill positions, people don't demand much. They don't ask for raises, they don't use all their vacation days because they are afraid that the company will realize that they can survive without that person. They don't report injuries, they generally work harder for less.

This is the same reason why we aren't seeing any real immigration reform. Plenty of businesses are enjoying the cheap "cash under the table" labor that they are receiving, particularly in states like Texas.

I know of a few employers that pay near minimum wage for manual labor. They can't find people that can show up and don't have a drug problem, so they don't do drug tests because they would lose half their employees. The company that I just referenced is owned by a hedge fund that is only interested in cheap labor.

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Avoice

Dec-27-13 4:41 PM

Gopherstate and MCW - generalities and talk are very cheap but hard facts, not anecdotal gossip, are proof. Yes, I will have to agree there maybe instances of cash "under the table" but they are not the reputable people you want to do business with but we have more people looking for that "cheap costing project" and will engage such a company. You can double the pay of those with the troubles you mention but all that means they only have to work half the time so they can fuel their bad habits. Present me with a sober, responsible hard worker and he will be paid accordingly. Too man of our current workers have not been taught to be responsible when working and to respect their employer.

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TURBO75

Dec-27-13 5:37 PM

Avoice, please provide us with this education, and be advised I was in the insurance business for 30yrs.

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