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Reuters to the rescue: Obamacare saved the economy from contraction!

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By Doug Powers  •  May 1, 2014 10:38 AM

**Written by Doug Powers

President Obama’s approval rating is at a new low and Obamacare disapproval continues to rise, which means it’s time for the mainstream media to do their stuff.

Reuters to the rescue:

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Oh man.

One alternate headline: Forcing millions to re-purchase health insurance they already had and greatly expanding Medicaid contributes to increase in health-related spending. Duh!

As the U.S. economy teetered on the brink of contraction in the first quarter, one thing stood out. Healthcare spending increased at its fastest pace in more than three decades.

That surge is attributed to the implementation of President Barack Obama’s signature healthcare law, the Affordable Care Act, also known as Obamacare. Because of Obamacare, the nation narrowly avoided its first decline in output in three years.

“GDP growth would have … been negative were it not for healthcare spending,” said Harm Bandholz, chief economist at UniCredit Research in New York.

Reuters reports health care spending increased at its fastest pace in over 30 years, completely skipping the fact that Obama promised that Obamacare would decrease health care spending. Instead, the focus is on how yet another broken promise is good for the economy.

Six years later, lapdog loyalty is still going strong.

**Written by Doug Powers

Twitter @ThePowersThatBe

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