Obamacare boosting household income and spending

[ProSense]

Obamacare boosting household income and spending

by Joan McCarter

It must have really killed the editorial board over at the Wall Street Journal to see this this story appear on the paper's website.

The Affordable Care Act, President Barack Barack Obama’s signature health law, is already boosting household income and spending.

The Commerce Department reported Monday that consumer spending rose a better-than-expected 0.4% and personal incomes climbed 0.3% in January. The new health-care law accounted for a big chunk of the increase on both fronts.

On the incomes side, the law’s expanded coverage boosted Medicaid benefits by an estimated $19.2 billion, according to Commerce’s Bureau of Economic Analysis. The ACA also offered several refundable tax credits, including health insurance premium subsidies, which added up to $14.7 billion.

Of course it's helping consumers. It was designed to. Which also means it will help the economy when those consumers have a little bit more personal income to spend out in the marketplace. It will help insurance companies who will have more customers, many of whom won't ever require big payouts. That's one of the reason this model of health insurance reform was proposed first by conservatives!

Kudos to the WSJ for noticing, but don't expect anyone on the right to acknowledge that this story exists.

http://www.dailykos.com/story/2014/03/04/1282095/-Obamacare-boosting-household-income-and-nbsp-spending

[MannyGoldstein]

1. Median or mean? nt

[ProSense]

2. Which one do you think it is? n/t

[MannyGoldstein]

3. I'd bet total, actually

Which is more like mean.

[ProSense]

4. Kick! n/t

[Cha]

5. I bet! HAHA.. suck on it, teabagger obstructionists.

We need to pass it around..

thanks for helping, PS

[ProSense]

8. Yeah, kick! n/t

[sheshe2]

6. Kick!

[Stuart G]

7. kick.

[MineralMan]

9. It kicked up the amount of money we have to spend

each month by almost $500. My wife's health insurance premium was cut in half by ACA. It has already made a huge difference. My SS payment used to all go to pay her health insurance. Now, half of it goes to pay the mortgage.

ACA has helped our household enormously.

[Cha]

10. KICK!