Glenn Beck once said Obamacare would mean “the end of prosperity in America forever.” But so far, it turns out President Obama’s 2010 health law is actually putting money in Americans’ wallets.
To be exact, President Obama’s 2010 health law was responsible for about three-quarters of a surprising January rise in U.S. consumer spending and American income growth, according to calculations by the Wall Street Journal.
While not exceptional, the gains were significant: a 0.4 percent rise in consumer spending ($45.2 billion) and a 0.3 percent rise in personal incomes (up $43.9 billion), according to new figures released by the Bureau of Economic Analysis. The growth came in spite of the expiration of unemployment benefits for the long-term unemployed and all that horrible winter weather.
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