More Obamacare Fun

Firstly, our friend, Steve Green, is pointing out some of what I was mentioning below and then goes a few thoughts deeper on the subject in The Week the Wheels Came Off Obamacare.

The pols and pundits can argue and fingerpoint until they’re blue in the — finger? — but Obamacare’s numbers paint a bleak picture of broken promises and outright lies. After a full month, nearly 40,000 people have successfully signed up for health insurance at HealthCare.gov, out of an administration goal of over seven million by the end of March. At that rate, the administration will have met its goal sometime in the autumn — of 2028.

Mind you, the goal of Obamacare was to provide coverage for some 47,000,000 uninsured Americans. So take those 15 years and multiply them by about seven. You’re gonna need a bigger calculator.

Ignored in those dreary statistics is the fact that people are being dumped out of their current coverage and onto the nonfunctional exchanges faster than the exchanges can handle them. An estimated 1,500,000 have lost their coverage, up against those newly insured 40,000. The best guess is that seven or eight million more face the same fate.

And that’s just the first few paragraphs.

This little article dives into the numbers in Kentucky– and it’s dismal.

These notes serve to reinforce my belief that when the numbers start turning positive, the “newly covered” are going to be nothing of the sort. Folks stripped of coverage by government mandate will be the first, largest influx of Obamacare enrollees.

View from the Tar Pits

Velociman’s view from the tar pits is five minutes of reading extremely well-spent.

There is a strange poetry to his words.

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.

A Focused View of Citizens United

For those who have tended to take a shallow view of the Citizens United case, this is a good opportunity to gain a deeper understanding of the legal and philosophical underpinnings of both the majority decision and the dissent, specifically in relation to the concepts of free speech. Published in the Harvard Law Review, I would suggest that it is very even handed in its analysis. Be sure to download and read the linked pdf; the web page is merely introduction.

Read the original.