But...but...I thought Obamacare was supposed to HURT the economy???
On the one hand, I always thought that reducing healthcare spending was supposed to be a good thing. On the other hand, apparently to most economists, increasing spending overall is supposed to be a good thing. So...um...ok, then:
WASHINGTON (Reuters) - The U.S. economy likely grew at a much faster pace in the second quarter than previously estimated, according to data on Thursday that showed a big jump in healthcare spending.
The Commerce Department's quarterly services survey, or QSS, showed healthcare outlays increased at a much brisker clip than the government had assumed in its last estimate of gross domestic product in late August.
As a result, economists said healthcare spending could add as much as three-tenths of a percentage point to second-quarter GDP growth, taking it to as high as a 4.7 percent annual rate.