Tuesday, November 29, 2011

Those unintended consequences

Remember that this is the signature "achievement" of Obama's first (and last) term.  Weekly Standard: "Study: Under Obamacare, employees will likely engage in 'targeted dumping' of employees."
Minnesota Public Radio reports, “A loophole in the federal health care overhaul would allow many employers to game the system by dumping their sicker employees [into] public health insurance exchanges, according to two University of Minnesota law professors.” Such “targeted dumping” of sicker employees would cause Obamacare’s taxpayer-subsidized exchanges to cost more — potentially far more — than the Congressional Budget Office (CBO) has projected.
This seems to be a pattern with the Obama administration from Stimulus I to Cash for Clunkers to Obamacare to Solyndra: it won't work but at least it will cost a lot of money.


Was wrong, is wrong, will be wrong said...

Is there some ongoing contest we don't know about, and whoever makes the 1 billionth bogus comment that "the stimulus didn't work™" wins a free pizza?


Eric said...

That link is hilarious.

First sentence: "Most Americans don't think the stimulus worked." What a bunch of dolts!

But then we know from the CBO that the stimulus created 3.3 million jobs for the low, low cost of $848 billion dollars for a grand total of a quarter-million per job.

Well, I stand corrected. Money well spent. Do we have to pay it back?

Laissez Fail said...

As opposed to having the economy completely collapse... for FREE! Those wasteful fools!

Eric said...

Yes, if we hadn't spent almost a trillion dollars, we could have had unemployment near the "without recovery plan" line.


Roger Bournival said...

Eric - you're in need of a serious troll upgrade...

"Stop trolling us with trolly facts" said...

Whoo hoo, it's chart time!

What did we get for a trillion dollars? Nothing! Absolutely nothing, except a sudden, sustained boost in GDP. And a screeching halt to the precipitous job decline. And then the accompanying flattening of the unemployment rate, once A and B kicked in. (Free bonus: seeing these dramatic trends wane for weird and mysterious reasons that have no correlation with the stimulus ending, that's for sure.)


It's amazing to see the party that claimed for six loud years to have kept America safe from imminent terrorist attacks - what you didn't see is because of what we did! - now pretending not to understand the preventative effects of a stimulus bill. Since 2009, you can't prove a negative!

Unless you're an economist. They deal with negatives and estimates all the time, and most of them say the stimulus worked. And yet half of our politicians said the stimulus was a disastrous flop. Oh, but who to believe?

Anonymous said...

Loophole? I thought Obamacare was designed to eventually get Everybody in the program. Gotta start somewhere.

Eric said...

Well, there's a reason that Obama never - ever - refers to the new jobs bill as "Stimulus II" or "Stimulus Jr." Everybody besides Paul Krugman knows it was a bust and waste of money.

Economists: "It boosted GDP!"
Americans: "Great. Any spare change?"

Eric said...

It's a good day for debate when you have headlines like this:

"Jobless Claims Climb Back Over 400,000"

Obama 2012: Coulda been worse!

EVERYBODY knows. Everybody! said...

Well, there's a reason that Obama never - ever - refers to the new jobs bill as "Stimulus II" or "Stimulus Jr."

Yes. It's called "politics." It certainly isn't economic theory or history, which comprehensively back such stimuli.

Everybody besides Paul Krugman knows it was a bust and waste of money.

Fun Facts:
Did you know the secret Paul Krugman Cloning Project has allowed an army of Krug-men to completely staff the Congressional Budget Office, the International Monetary Fund, the Chinese State Council, the G-20, the European Commission, the Japanese Diet, the Organization for Economic Co-operation and Development, the Asia-Pacific Economic Cooperation, and so on?

Did you know that German Chancellor Heinrich Von Krugman is the man behind that country's "cash for clunkers" program, its heavy taxpayer investment in green and renewable technology, its universal health care coverage, and its stimulus package (the nation's largest in 70 years)? His fiscal policies have been such a failure that a dozen nations are counting on Germany to save them.

Anonymous said...

If the stimulus had worked, I doubt you'd be seeing OWS#