Tuesday, February 4, 2014
ObamaCare and D.C. Theories and Economic and Geographic Realities
It is a test of true theories not only to account for but to predict phenomena.
Wilber Whethall (1794-1866)
ObamaCare, theory goes, will be good for social justice and the economy too. It will lower costs, spread the wealth around, and, the poor and near poor, with fewer health expenses and subsidies too, will have money left over. They will spend it and will boost the economy.
It is a fine theory.
Then along came the nonpartisan Congressional Business Office (CBO). The CBO, in its regular report, projects the following for 2024.
1) destroy 2.5 million jobs.
2) leave 31 million without health insurance.
3) cause 6 to 7 million Americans to lose health plans.
4) reduce incentives to find and keep jobs.
5) Lower after tax-income because of higher taxes.
ObamaCare currently seems to be destroying jobs, increasing spending, and making health care less accessible. These trends may not hold up over the long term, but that’s the current picture and 10 year CBO projections.
Then there is a just released Census Bureau study. It shows the “best states “ to live in, as judged by Washington insiders are Demcratic Blue states – New York, Illinois, and California, and 7 to 10 of the “worst states” are Southern states are controlled by Republicans.
The problem is that when Americans choose where to move for job opportunities and lower costs of living , they flee the North and go South.
· Texas ranks 36th as a state in which to live, but number 1 as a state to which to move.
· South Carolina is near the bottom, 46th as a worst place to live, but 6th as the best state to which to move.
Minnesota, New Jersey, Connecticut, and New Hampshire rank high as best states in which to reside but low in population growth.
Whether it boils down to designing a health care plan, Washington politicians think they know best where to live and work, but when people think otherwise when it comes time to move. People simply don’t buy what Washington is selling and where D,C. insiders think they should live.
Tweet: When it comes to D.C. theory and economic reality, Americans are choosing economic realities over where they choose to live.