Economic growth in the U.S. stagnated during 2015.
Q1 came in at 0.6%, Q2 at 3.9%, Q3 dropped to 2%, and Q4 plunged back to 0.7%, for an average of 1.8% on the year.
That 1.8% GDP growth included another peculiarity.
The biggest contributor to economic growth in 2015: Personal Consumption Expenditures (PCE).
And within PCE… (drum roll…)… Health Care related spending represented a full “quarter of the growth in US personal consumption expenditures, almost 100% higher than the second highest spending category…” And – those health care related expenditures included “Obamacare” taxes. (Source: Zero Hedge 1/29/2016)
“And that, ladies and gentlemen, is how you convert a tax into a source of economic progress.”
There is a better way to ‘drive’ economic growth, and that is through a citizen-directed economy.
There is also a better way to express health care spending, and that is through a citizen-directed allocation of health care resources.
The Leviticus 25 Plan 2017 – $75,000 per U.S. citizen The Leviticus 25 Plan 2017 (1331)