All you need to know about Obamanomics…
These charts are from the Federal Reserve, FRED (Federal Reserve Economic Data) https://research.stlouisfed.org/fred2/
This is a train wreck.
And yet, the “services” part of the US economy seems to hum right along, leading to such surprising outcomes as a stronger than expected print in Personal Consumption Expenditures. How can this be?
Simple: one look at the chart below should explain how the “services” half of the US economy continues to grow.
Obamacare is responsible for healthcare “spending” amounting to a quarter of the growth in US personal consumption expenditures, almost 100% higher than the second highest spending category.
And that is how you pretend a tax is some kind of economic progress.