Obamacare economy

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.

In talking with reporters, Obama proclaimed 2014 “can be a breakthrough year for America.” He was speaking of his optimism about the economy next year.

It is true the U.S. economy seems to be performing well, at least compared to most of the president’s term in office. But hundreds of billions of dollars in “stimulus” spending by government had little or nothing to do with that.

If anything, the economy has rebounded slightly in spite of the Obama administration, not because of it. And next year may prove to be a breakdown in the family economies of tens of millions of Americans.

Already, many are finding the national health care takeover – Obamacare – is hazardous to their financial health. Millions of people have had insurance policies canceled, and been told they have to buy new, more expensive ones approved by the government.

It will get worse next fall, when the one-year delay in Obamacare compliance for businesses expires. Even government analysts predict tens of millions of working men and women will lose health care coverage provided by their employers.

Obama knows all this. So we are left to conclude that he believes in Santa Claus – and expects a Christmas miracle to reverse the damage Obamacare is doing to the economy.