Obamacare is good for the economy, says big Wall Street institution progressives say they hate

[mota bhai 2,675]

Alec Phillips, economic researcher at Goldman Sachs, said in a note issued late last week to clients that subsidies from the Affordable Care Act boosted gross domestic product during the first quarter and are likely to do the same during the second quarter.

...

“While we were initially skeptical of the large estimated effect of the new subsidies on personal income, these now look more reasonable to us in light of revisions, greater enrollment than expected several months ago... ” Phillips said.

...

But the health-care industry won’t be the only one to benefit, Phillips says, as subsidies will free up income for those who had no coverage before, as well as those who had insurance but were paying for it themselves.

“Overall, around 40% of the subsidies should find their way to non-health consumption this year,” he wrote.

http://blogs.marketwatch.com/health-exchange/2014/05/12/obamacare-is-good-for-the-economy-goldman-sachs-researcher-says/?mod=MW_home_latest_news

[Darnell 8,478]

Unless and until there is a marked increase in the cat pizza subsidy, no real economic growth can be realized.....