ACA Jokes Just Keep Coming

If laughter is the best medicine, then the whole goal of Obamacare must have been to kid us all the way to good health. Because the reality of the poorly conceived plan is absolutely hilarious!

In March 2010, Obamacare was about to be voted upon by the House of Representatives, and the Democrats were in the process of deciding whether to ignore public opinion at their peril.  At that time, the Congressional Budget Office (CBO) projected that Obamacare would cost $938 billion over a decade and would reduce the number of uninsured people by 19 million as of 2014 (with a reduction of 1 million prior to 2014 and 18 million in 2014 alone).  Unimpressed, the American people overwhelmingly opposed the intrusive overhaul — with 20 of 21 polls taken that month showing it to be unpopular, most of them by double digits. The Democrats willfully passed Obamacare anyway and lost 63 House seats that November.

Two years later, the Supreme Court declared Obamacare’s coercive Medicaid expansion to be unconstitutional as written, and the CBO adjusted its projection for the number of uninsured accordingly.  Itprojected that Obamacare would reduce the number of uninsured by 14 million as of 2014 (2 million before 2014 and 12 million in 2014 alone), at a 10-year cost of $1.677 trillion — or $739 billion more than the 2010 projection.  (This February, the CBO projected that Obamacare’s 10-year cost would eclipse $2 trillion.)

Bwahahahahahahahhahah—doh!

I think I pulled a muscle…

Quick Read of the Day: Obama and the New Global Instability

Over at Commentary, a quick little article about President Obama’s failure on foreign policy. A tidbit:

Mr. Obama said that if elected his approach would be characterized by “smart diplomacy.” The result would be that he would “remake the world” and “heal the planet.” And during the first summer of his presidency, Mr. Obama said his policies would usher in a “new beginning” based on “mutual respect” with the Arab and Islamic world and “help answer the call for a new dawn in the Middle East.”

Some new dawn.

President Obama has not only not achieved what he said he would; the world may well be, as Senator John McCain put it this weekend, “in greater turmoil than at any time in my lifetime.” Mr. Obama’s role in this turmoil depends on the particular case we’re talking about, but it’s certainly the case that (a) his policies have amplified and accelerated some of the problems around the world while failing to mitigate others and (b) measured against his own standards, the president has failed miserably.

And it was all utterly predictable. That’s the hell of it.

I find that my commentary is becoming increasingly bitter. I don’t blame our president at all for following his own nature or for being precisely the politician that I fully expected he would be. No, I blame my fellow citizens for electing him twice to this position, and for leaving our nation open to him. While we debated the trivial (free contraceptives are, truly, trivial in comparison to our economy, the number of healthy Americans who remain jobless, and the dangers of an unsettled world political order), we elected a man who was a measurable failure as president. A failure in nearly every meaningful way.

No One Wants to Pay for the Free Stuff

Hide Our Heads

Apparently, we can’t handle the truth…

What to take from this Reason article wherein we find that millenials are deeply cynical about government, believe it to be bloated and inefficient, and would like to see it spend less money while at the same time wanting access to free health care and a guaranteed “living wage?” Probably nothing earth-shatteringly huge, except that as long as someone else is footing the bill, we all want all of the “free” services that we can get.

“Would you like a Ferrari?”

“Yes.”

“Would you like a Ferrari even if it means that you’ll have to pay for it, heavily, for the rest of your life.”

“Well, when you ask that way…”

But when you’re convinced that someone else always owes more taxes (a misguided sense of “fairness”), then there is always someone else to pick up the tab. The conversation about green energy is similar.

“Would you like all energy to be generated through clean, renewable sources?”

“Yes.”

“Would you like all energy to be generated through clean, renewable sources even if it doubles your current energy bill?”

“Well, when you ask it that way…”

Of course, this ignores all sorts of subsidies and market-distorting realities that mean few of us know the actual cost of most of the staples in our lives (farm subsidies, energy subsidies, unequal tax and regulatory burdens on a variety of industries…) so what we actually pay for our energy, food, medical care, and Ferraris is anything but transparent. While transparency would be nice, what we have is such distortion that our supposedly free market is more like a pool where some bits are a tad murky and others are utterly opaque.

But here’s the thing: when it comes to politics, we usually stop at that first question and answer set. We rarely step back to truly understand the cost of our legislation and our expectations. Why would we imagine folks would make rational choices when they aren’t actually given enough information (or that information is so obscured as to be indecipherable) to choose rationally?

So, What You’re Telling Me…

…is that our “not quite good enough job growth” has  been downgraded to “nowhere near replacement level job growth.”

Well. That sucks.

Between December of 2012 and February of 2013, 699,000 jobs were created; for an average of 233,000. Between March and May of 2013, however, the economy created only 466,000 jobs; for an average of 155,000 jobs.

Read the original.

Economic Drift

There was no good to be found in today’s job report. It was a blunt reminder that our nation is continuing to drift through an economy unmoored by continued uncertainty and growing unemployment. The ragged appearance of a drop in unemployment is, of course, a lie; while the economy added some 88,000 jobs, the loss of nearly half a million workers who simply abandoned the idea of finding work.

They gave up hope.

In March, 496,000 people took themselves out of the labor force altogether, meaning they stopped searching for work.

When unemployed people quit looking for jobs it can lower the jobless rate. But for all the wrong reasons. Hiring was weak in March. The 88,000 jobs employers added aren’t even enough to keep up with population growth.

So that March drop in the unemployment rate to 7.6 percent likely has more to do with frustrated job seekers giving up than employers buying into the economic recovery.

It is important to note that this is not new. This is not something that simply happened this month or something as a reaction to recent political events: no, this is the continuation of the bleeding. The job participation rate (which you can also see at the linked article) has been falling with regularity for the last decade and most precipitously over the last five years or so.

No, our problems are deeper than any recent political failures and our current leadership has show precisely no capability of conceiving of a plan to solve those problems.

Read the original.

April Fools

Have you heard the news? President Obama has declared April to be National Financial Capability Month with a key goal of teaching young Americans how to budget responsibly.

Together, we can prepare young people to tackle financial challenges — from learning how to budget responsibly to saving for college, starting a business, or opening a retirement account.

Financial capability also means helping people avoid scams and demand fair treatment when they take out a mortgage, use a credit card, or apply for a student loan. My Administration continues to encourage responsibility at all levels of our financial system by cracking down on deceptive practices and ensuring that consumers are informed of their rights.
The truth is that I don’t even remember when last we had a president who could claim the moral high ground on responsible budgeting, but it’s been long enough that this comes across more as April Fools joke than meaningful presidential guidance.

Politicians, budget thyself.