To the shock of many, U.S. GDP shrank in the fourth quarter of
2012 by 0.1%. Immediately, however, economists and commentators
flooded the media with reassuring explanations. Super Storm Sandy
reduced economic activity in the areas it ravaged; worries about
the fiscal cliff and sequestration dampened business spending and
government defense spending; businesses let inventory levels
dwindle. Even the Federal Reserve commented that the GDP drop was
the result of “weather-related disruptions and other transitory
factors.” All this is true, to some extent. But none of the
reporting I saw even mentioned the elephant in the room that not
only depressed economic activity in the fourth quarter of 2012, but
will continue to depress economic activity through 2013 and beyond.
That elephant is the “Affordable Care Act,” aka “Obamacare.”
Read more: http://spectator.org/archives/2013/02/06/the-coming-obamacare-recession
Read more: http://spectator.org/archives/2013/02/06/the-coming-obamacare-recession
1 comment:
And as always our government is full of excuses…you know, just like my boyfriend. But I guess it is a bad comparison. In any case, it is time to admit the economy is struggling. I am not trying to deny the fact that disasters not making it any better, but instead they make things look uglier. It is very easy to blame Hurricanes, but why not creating perfect conditions for the restoration, I mean recovery of businesses. SBA is providing low -cost loans, which is a good step. So the government has to do everything in its power to protect people from applying for new credit cards or maybe even no fax payday loans. Something has to be done.
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