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Author: Varlot One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 4921  
Subject: Re: Merck at 45, nice Date: 8/6/2012 10:11 PM
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Obamacare is the biggest JOBS KILLER in US history. That has already been proven to all not in denial! Its economics not politics, wake up already! The MRK, PFE, ABT and the like can deal but small business is being crushed!

The reason unemployment is at its current high of 8.3% is due to the sharp cuts in state and local government spending in the wake of the 2008 financial crisis, and the layoffs those cuts wrought.

If it were not for those cuts, attributed not to the Affordable Care Act, aka Obamacare (or Romneycare for the citizens of MA), but to the financial crisis brought on by the repeal of Glass-Steagall and the concurrent playing of Russian Roulette with the assets of ordinary citizens siphoned off from the commercial banks by the investment banks (who knew the taxplayers would be forced to bail them ouf if things went south in order to avoid a total collapse of the economy), the current unemployment rate would be 7.1%, not 8.3%.

Here is a link elaborating on this in more detail by that bastion of liberalism, The Wall Street Journal: http://blogs.wsj.com/economics/2012/05/08/unemployment-rate-...
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