Question

Please answer in 150 words. Question: In your own words what kind of economic effect has Obama Care had, and what effect will it have going forward, on the US? Think about unemployment, inflation, GDP, productivity etc., and remember to keep all discussions on a civil and Christ-like level.

Answer 1

The economic effects of Obama Care on the US economy can be seen in various fields, at various levels. There is no direct evidence to prove that Obama Care has had any negative effect on the US economy. When we consider the various yardsticks of economic growth like unemployment, inflation, gross domestic product (GDP), productivity, etc., Obama Care had a different impact on each one of these, but there was no negative economic effect as a whole. At the same time, it had a positive effect on the US economy. The unemployment rate came down from 9% to 5% and private jobs were up but public jobs decreased. There was a steady US economic growth after a recession, the worst crisis in recent times. There is an observation that Obama Care actually acted as a stimulus for the recovery of the US economy from the recession. A direct impact of this law was a slowdown in healthcare spending. There was an increase in GDP, inflation-adjusted economic growth, which exceeded the growth of many other high-income nations. There was an addition of 14 million jobs in the private sector 5 years after the law was enacted, which contributed to an increase in productivity. If the legislation is valid in the coming years, the only expected economic impact is a positive one.