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More Proof Obamacare Sucked Up All Those “Gas Savings”

THE PROOF IS IN THE (GROSS DOMESTIC) PUDDING …  || By FITSNEWS ||  We’ve written previously on Americans’ gas “savings” getting sucked up by Obamacare.  And on the general hike in health care costs resulting from this socialized medicine monstrosity (to say nothing of taxpayer costs). In fact years ago, we…

THE PROOF IS IN THE (GROSS DOMESTIC) PUDDING … 

|| By FITSNEWS ||  We’ve written previously on Americans’ gas “savings” getting sucked up by Obamacare.  And on the general hike in health care costs resulting from this socialized medicine monstrosity (to say nothing of taxpayer costs).

In fact years ago, we warned that U.S. president Barack Obama‘s law was going to be disastrous for the American economy – and we were right (see HEREHERE and HERE).  As a candidate in 2008, Obama projected annual savings of $2,500 per family by the end of his first term in office – yet when his first term ended, there had been a $2,400 increase  in insurance costs.

In other words, his promise was about as accurate the oft-repeated “if you like your health care plan, you can keep it” line … yet he got elected anyway.

Why?  Well, one reason is the “Republican” he ran against was also a socialized medicine supporter.

Anyway …

We now return you to the fundamental premise: Which is that Obamacare is bleeding America dry.  Don’t believe us?  Take a look at the following GDP charts provided by our friends at Zero Hedge.

First we have Q3 (July, August and September, 2014) …

(Click to enlarge)

Final Q3 GDP contribution_2

(Chart: Via)

Readers will recall economist were ebullient when the government estimated third quarter growth at a whopping five percent.  Turns out without the “Obamacare surge,” it would have been more like a two percent hike.

And here’s Q4 (October, November and December 2014) … which we now know saw the greatest quarterly outlay on health care expenses in recorded history.

(Click to enlarge)

Obamacare Q4 GDp_1

(Chart: Via)

Indeed, health care spending accounted for a whopping forty percent of fourth quarter GDP growth …

“Now we have solved the mystery of why US households did not spend all those billions in ‘dropping gas price’ windfalls – the answer is that they did in fact spend all this money. On Obamacare,” Zero Hedge noted.

***

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79 comments

GrandTango March 27, 2015 at 3:12 pm

Its not gas SAVINGS…its just closer to normal prices..

If you were not a dumb@$$…you’d care about the economic damage 6 years of exorbitant Obama gas prices have done to job-short struggling families. ..

And now Obamacare is finishing us off..

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How about this March 27, 2015 at 3:23 pm

I hope it finishes people like you off. I’m serious. The only eeason that I’m glad we didn’t participate fully is that old farts like you who vote against their better interests can’t benefit, and young guys like me don’t have to pay for it.

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GrandTango March 27, 2015 at 3:34 pm

I’m likely younger than you…idiot…even if you have the brain development of a 9 year old (my apologies to 9 year olds)…

And I vote for the good of all….selfish @$$ holes like you feed your greed…you say screw everyone else..that will not work long-term. ..

PS thanks for admitting you and Obama favor death panels…

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He's Right March 27, 2015 at 3:44 pm

GrandTango writes like a toddler, he’ll probably outlive us all.

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Pineapple Twist March 27, 2015 at 3:56 pm

He occasionally has a spark of thought that helps maintain his status as the righteous villain for the site.

They say kids keep us young….

Righteous Villains March 27, 2015 at 4:09 pm

I haven’t seen anything about GrandTango that could be considered righteous so far.

Pineapple Twist March 27, 2015 at 4:18 pm

I will say he was right a couple times. Now for righteous, just listen to him, he will tell you he is.

GrandTango March 27, 2015 at 5:01 pm

Please take that back. You’re destroying my self-esteem. A literary critic of your repute…I must have your approval. You’re such an expert I’m sure…

If I don’t get you to say I’m a good writer, I’ll send back the lucrative writing contract I just scored…LMAO…NOT….

Pineapple Twist March 27, 2015 at 5:26 pm

LMAO! I have always questioned your self esteem. (sarcasm alert)

Rocky March 27, 2015 at 3:36 pm

Yeah. Cause my healthcare costs this year, they’re way different than last year. Down about $26 a month, which I turned around and placed in an employer matching HSA to cover co-pays and out-of-pockets. Sorry guys, the graphs themselves say “Additional” Contributions – without stating what the core contributions are, it’s a pretty incomplete picture.

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GrandTango March 27, 2015 at 3:59 pm

Why is it you’re the only dumb@$$ in America that makes these ridiculous claims?

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Rockee March 27, 2015 at 4:22 pm

I’m not. Why do you park your head up your ass. Oh, never mind.

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Taxpayers March 27, 2015 at 6:26 pm

What do you care? The taxpayer covers all of your health, mooch.

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big bob March 27, 2015 at 3:13 pm

Tyler Durden is not to be trusted !

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just another guy March 27, 2015 at 3:16 pm

You didn’t know that Fits has become zerohedge? Too bad Sic is not smart enough to see how they spin things over there.

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Jack March 27, 2015 at 3:15 pm Reply
Expensive, isn't it? March 27, 2015 at 3:53 pm

Insurance actually having to pay for healthcare instead of flipping off sick people makes it more expensive? Stop the presses!

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Jack March 27, 2015 at 4:17 pm

Actually that is not correct. The problem has always been the uninsured. They go to the emergency room. They cannot pay. The hospital has to eat the loss. The hospital increases their charges to make up for that loss. That means the insured have to pay more to make up for the uninsured who cannot pay. Having the uninsured pay for insurance broadens the pool of paying health care consumers. Over time this should reduce the cost to consumers on a per capita basis (exclusive of those who simply did not pay in the past of course), and allow insurance rates to fall. Plus you are bringing in a lot of younger healthier people, who in the past would have not paid for insurance and simply taken the risk of not getting sick.

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Pineapple Twist March 27, 2015 at 4:20 pm

In today’s SC economy, how many of those young can afford insurance? Yes, let’s piggy back on the next generation until they crumble underneath the weight of debt.

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Jack March 27, 2015 at 4:36 pm

That does’t make any sense. If they buy insurance through the exchanges, they get a tax subsidy to help them pay. Those of us who are insured are paying either way. The goal is to broaden the paying base and thereby decreased per capita cost.

Pineapple Twist March 27, 2015 at 4:56 pm

I don’t get any tax subsidies that I am aware of – I think our definition of exchange is different. I am talking about private insurance policies. Now, maybe somewhere in ObamaCare they are subsidized? I cannot fathom that is true based on the costs, unless they are adding costs to younger generations.

Jack March 27, 2015 at 5:00 pm

You obviously do not understand how the ACA works. Based on your income you either get a subsidy or you don’t. The subsidy comes on your tax return. If you can afford insurance without help, you get no subsidy. If you can’t your taxes are decreased to help you pay for the insurance.

Pineapple Twist March 27, 2015 at 5:25 pm

Jack, my point is, I didn’t purchase a policy, that to my knowledge, is subsidized. Unless ACA has somehow locked the private sector into rates.

What I purchased is a private policy for a family member. I do understand how ACA works if you sign up on their site, it is based on income. My family member had ZERO income, so it would have been the cheaper route.

I convinced this person to let me purchase a private policy, because we could, without relying on the Government $, even though we have paid taxes out the ass.

I’ll let you know in a few weeks if I get any “subsidy” on my tax returns, but it is highly unlikely.

Jack March 29, 2015 at 3:08 pm

You do not get a subsidy for buying a policy outside of the exchanges. If your family member had zero income he would not have gotten a subsidy either. The law contemplated he would be covered by expanded Medicaid, but SC rejected that, leaving people like the person you paid for to pay full price.
That said you can’t get a subsidy buying insurance for someone else. Only you, your spouse and your children under age 26. You really do not know how this works.

Pineapple Twist March 29, 2015 at 3:59 pm

My family member had zero income. It is a subsidy if you are sucking the governments teet. I chose to pay for it, even though in SC this person would have been available. SC has not completely abolished ObamaCare, I don’t think they have that ability or power.

I know from personal experience how it works. My family member is not under 26. I also know for a fact it is destroying healthcare for those who paid into Medicare or have retirement benefits. I’m not going to share my personal family history, but I do KNOW it is hurting some, those who paid into plans, while it is helping those who have paid NOTHING.

Let’s try to have a diplomatic conversation. I’m not in the mood to be ugly and argue. The truth is out there, right on the internet, for anyone who wants to look at it.

Pineapple Twist March 29, 2015 at 8:22 pm

Jack, my policy was not “to my knowledge” based on income and based on price, if that is subsidized, I would choke on full premium. It is higher than what a COBRA policy would cost based on age.

When families can afford it, I believe they should. Now, given the amount of taxes we have paid, IF ObamaCare isn’t repealed, I’ll revisit that.

FastEddy23 March 27, 2015 at 6:18 pm

I figure you can start your own insurance company …

Pineapple Twist March 27, 2015 at 9:17 pm

Eddy that is too outrageous for even you? However, I more inclined to self insure, but you can’t compete when insurance rates out rank hospital visits.

Why not let the doctors set their own rate? It’s a choice then. Do we stay or do we go?

william6963 March 27, 2015 at 4:42 pm

The fix for that is no pay, no emergency room.

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Jack March 27, 2015 at 4:48 pm

Yes Ron Paul, I know some Republicans subscribe to the let them die theory. Not all of us do however,

Bible Thumper March 27, 2015 at 3:57 pm

Fits used the word “ebullient”. He must know what he’s talking about. ;-P

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The Great Googily Moogily March 27, 2015 at 4:06 pm

RAND PAUL (2%, 0 Votes)

from your poll, pick favorites much?

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FastEddy23 March 27, 2015 at 4:20 pm

“All inflation is caused by government, government prints the money and government can too easily print too much.”

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Manray9 March 27, 2015 at 4:36 pm

Really? That would be interesting to economists, since inflation is not directly related to money supply. Look up demand-pull and cost-push inflation.

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Pineapple Twist March 27, 2015 at 4:47 pm

Manray, you are talking about supply and demand? Inflation is related to “printing” money. It weakens the dollar every time they pull that lever to print more money. To make up the difference, prices climb – inflation. That is layman terms.

Inflations hurts the poor, but because their money doubles, while commodity expenses soar, they pay little attention. Only when balancing a checkbook do they realize they have less money – not enough to pay the bills. Where did the money go? They had more than before? They are also paying more than before.

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Manray9 March 27, 2015 at 5:10 pm

I suggest some research. One element in inflation CAN be money supply, but the primary drivers are excess aggregate demand and cost-push elements (also called supply-side factors). It’s Econ 101.

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Pineapple Twist March 27, 2015 at 5:28 pm

Read the book. I suggest you do some research Manray, since we have reached this point in debate, let’s just throw it down. What is inflation tied to? You did take Econ 101 right?

Pineapple Twist March 27, 2015 at 5:29 pm

I’ll even help you – what is the dollar backed by?

FastEddy23 March 27, 2015 at 6:06 pm

No, that’s Gruberment common core Econ 100 … In Econ 201 we learn that g’ment lies all the time and real inflation is related directly to the price of eggs, not the fuel burned driving to the welfare office.

Pineapple Twist March 27, 2015 at 6:09 pm

He lost steam Eddy. Hit and Run. (shrug) but I do like opposing opinions.

FastEddy23 March 27, 2015 at 6:11 pm

He was drunk … Let’s roll him when he comes back.

Pineapple Twist March 27, 2015 at 6:47 pm

LOL – I’m thinking of trying some of that ginger-ale or whatever heck it was that is good for the throat on another thread. ha!

FastEddy23 March 27, 2015 at 6:03 pm

Mmmmmm … The Big Mac Index, fur sure.

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Pineapple Twist March 27, 2015 at 7:12 pm

Hmmm…..Bugeronomics (sp?)

FastEddy23 March 27, 2015 at 5:51 pm

A rose by any other name still stinks.

Gruberized g’ment “economists” do not count. The parsing of the sources of government caused inflation into multiple categories does not change The Fact that government causes all inflation. Your suggestion that M1, M2, T-bills on “demand” and all the other little piggies in the markets are some, how not related to the totality of inflation is not born out by other genuine economic news (and sports) … What would Milton Freedman do?

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Stupidity on display March 27, 2015 at 8:47 pm

“That would be interesting to economists, since inflation is not directly related to money supply.”

lulz

Maybe someone should have said “price increases”…that would have really made the conversation more fun.

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Pineapple Twist March 27, 2015 at 8:59 pm

Ooops, I almost made the mistake of replying to you, Stupidity?

But since I took the time to type it: Inflation is tied to GDP. The amount of money printed (devaluing the dollar) and driving up costs of products produced (GDP).

Watch the difference between the two and BOOM – therein is the answer.

Ok, a gross exaggeration in simplicity, but ….

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Gross Silliness March 27, 2015 at 4:28 pm

Gross silliness.

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Pineapple Twist March 27, 2015 at 4:28 pm

You must be referring to Googily?

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Manray9 March 27, 2015 at 4:30 pm

I like the CNN Money story: “If watching the news doesn’t satisfy your hunger for scary stories Zero Hedge is the place for you.” and “Wall Street’s daily dose of doom and gloom.” Sic, how do you come up with these lunatic fringe sites?

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Pineapple Twist March 27, 2015 at 4:32 pm

I beg to differ – just go to Infowars whenever you need a good scare. AJ sprinkles enough facts to paint a truly horrifying picture.

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please March 27, 2015 at 6:25 pm

HaHaHaHaHa!!! Infowars. How fucking dumb.

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Pineapple Twist March 27, 2015 at 9:06 pm

read it in context – ha!

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please March 28, 2015 at 8:33 am

I did, twisty. Relax. It’s just Infowars is so fucking dumb.

Suck Crapolina March 27, 2015 at 5:26 pm

OK, we get it. South Carolina’s economy sucks ass. Maybe blame the party that controls the government there.

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GrandTango March 27, 2015 at 5:51 pm

Obama is wrecking the natioal economy w Obama care….

States resisting his hateful polices are doing better….Dumb@$$…

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Suck Crapolina March 27, 2015 at 6:23 pm

Uh, no they are not. Just look at that shithole you call home.

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euwe max March 27, 2015 at 10:05 pm Reply
idcydm March 27, 2015 at 5:57 pm

I can’t wait for the government to mandate everyone buy a gun or penalize them if they don’t, the left will explode. Wonder if that will have to go to SCOTUS to change the penalty to a tax.

BTW how many millions are not insured?

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FastEddy23 March 27, 2015 at 5:59 pm

I thought we all were Constitutionally required to have a musket or pistol … In case the British come at us again.

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idcydm March 27, 2015 at 6:02 pm

Don’t think it’s a requirement, just a right. You know like, Life, Liberty and the Pursuit of Happiness, it’s there but you have to catch it yourself.

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FastEddy23 March 27, 2015 at 6:26 pm

Great! Now what am I supposed to do with this old musket?

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idcydm March 27, 2015 at 7:15 pm

Hang on to it, once DHS buys up all the ammo you’ll still be able to make your own bullets.

euwe max March 27, 2015 at 10:53 pm

All you need is a steel pipe, and you can kill everyone you want… if you want to kill even more people, you can make an IED.

idcydm March 28, 2015 at 8:14 am

See, the left will explode.

SCBlues March 28, 2015 at 9:38 am

“See, the left will explode.”
Idiot.

euwe max March 28, 2015 at 3:28 pm

How so?

GrandTango March 28, 2015 at 9:01 am

Don’t let Obama know you got it…he’ll take it if he can…

euwe max March 27, 2015 at 10:51 pm

mandate everyone buy a gun or penalize them

——-
I can’t wait to see the results after a car backfires on a crowded street.

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idcydm March 28, 2015 at 8:16 am

You don’t have to wait, just go to Chicago.

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GrandTango March 28, 2015 at 9:00 am

LMAO…

But they don’t want to talk about those murder victims…they do not fit i w/ the corpses Democrats gain political power from…

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euwe max March 28, 2015 at 3:28 pm

Everyone has a gun in Chicago?

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guest March 27, 2015 at 8:35 pm

So if Obamacare hadn’t been passed everything would be peachy? We all would be rolling in the chips? My health insurance premiums, co-pays and out of pocket costs would be affordable? The insurance company would happily pay all my claims and not try to screw me over every chance they got? Please let me know what miracle was going to make this fantasy reality.

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Pineapple Twist March 27, 2015 at 9:12 pm

There is no easy answer, but why not pay out of pocket? This doesn’t work so well for folks who are older and have contributed to Medicare, but if I were 18 or 19 again, I would want my own savings, so the Government could not take it (like they do with Social Security).

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GrandTango March 28, 2015 at 8:02 am

To take a marginal system and totally F*#k it up…to where the people who pay, have costs quadruple, for insurance that pays nothing…is IGNORANCE.

Now, the non-payers, who have no investment in their wellness, who had complete healthcare through medicaid or indigent care.. have Cadillac plans… while the responsible are starving and struggling to pay for this crap…

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SCBlues March 28, 2015 at 9:42 am

” Please let me know what miracle was going to make this fantasy reality.”
Better title for this little article would be “More Proof Fits Does Not Have A Fucking Clue” . . . .

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Bible Thumper March 28, 2015 at 9:50 am

Without Obamacare, people would not have had lost full-time jobs to be replaced with part-time jobs. Part-time employees would not have had their hours cut to 25 or less and be forced to take 2 weeks unpaid leave beyond the unpaid holidays.

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FastEddy23 March 29, 2015 at 9:54 pm

Just noticed a bit on Fox web site: why does the outgoing president need three brand new airplanes? … at $3 Billion+ ?

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vicupstate March 30, 2015 at 4:11 am

Zero Hedge
Zero Credibility

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