Remember when the Supreme Court decided that Obamcare is legal but it’s a tax? Well, the nuances were irrelvant, but when it comes to the Bureau of Economic Analysis they could not have been greater: by effectively counting a tax as part of US economic growth, Obama, the Supreme Court and the US government’s beancounters assured themselves of a steady stream of “economic growth” for quarters to come, and sure enough, Q1 was no different.
As regular readers know, when it comes to the one constant source of US economic growth, nothing is more reliable than Healthcare, which is merely another name for how Obamacare figured in the beancount reports. And, we are confident, it will come as no surprise that in Q1, when real GDP grew by $44 billion in real terms, or 1.1% annualized, from $16.471 trillion to $16.515 trillion, Healthcare was reponsible for $26 billion, or a whopping 58.4% of the total.
via http://ift.tt/294Esyu Tyler Durden