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2001400ex
Member Posts: 29,457
in Tug Tavern
“This move will singlehandedly both increase the federal deficit by $200 billion and spike premiums by more than 20 percent in New Jersey next year.”
https://www.usatoday.com/story/news/2017/10/13/trumps-move-lead-higher-premiums-middle-class-consumers-hes-vowed-protect/760917001/
https://www.usatoday.com/story/news/2017/10/13/trumps-move-lead-higher-premiums-middle-class-consumers-hes-vowed-protect/760917001/
Comments
Way to blame less than 10% of the population for something that didn't even effect the 90%.
But ok!
Employee provided insurance wasn't effected by it at all then and it's still not now. Again, less than 10% of the population fell under the ACA. That's not going to really do much to the other 90%+.
It's like that stupid ass poll of over 50% of Americans hate, legitimately hate Obamacare, but 40% aren't effected by it all. Stupid for the sake of stupid and you can't fix that.
But if you zoom in a little closer, say, from January 2008 to January 2010, you see something interesting: the fuse was lit before Obama took office. (Note that this graph is only the "held by the public" part of the debt.)
That's because the increase in debt in the early years of the Obama administration was a largely a response to the imploding economy -- just as the big bulge at the end of the George W. Bush administration (2008) was.
Debt increases are a function of the government not being able to pay its bills. Too little revenue (taxes) compared to costs (spending), and you have a deficit. Since 2002, this is what quarterly deficits (or, rarely, surpluses) have looked like.
The administration likes to brag about its effort to reduce the deficit -- which is fair. After all, you can see in the graph above that deficits have decreased. But the White House uses another metric: the deficit as a function of total economic production, or Gross Domestic Product (GDP). The drop is more noticeable in that comparison (especially when you look at it annually, as we do below).