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Showing posts with label Consumer Spending. Show all posts
Showing posts with label Consumer Spending. Show all posts

Thursday, March 06, 2014

Wall Street Journal: Affordable Care Act Effects Account for Most of Income, Spending Increases

The Wall Street Journal is reporting that the Affordable Care Act is already boosting household income and spending.

The Commerce Department reported Monday that consumer spending rose a better-than-expected 0.4% and personal incomes climbed 0.3% in January. The new health-care law accounted for a big chunk of the increase on both fronts. On the incomes side, the law’s expanded coverage boosted Medicaid benefits by an estimated $19.2 billion, according to Commerce’s Bureau of Economic Analysis. The ACA also offered several refundable tax credits, including health insurance premium subsidies, which added up to $14.7 billion. Taken together, the Obamacare provisions are responsible for about three-quarters of January’s overall rise in Americans’ incomes. 

Wow. 

Friday, June 22, 2012