- Obamacare seems to be having a negative effect on Democrats in races. This might explain why they aren’t gung ho about it.
- One big piece of news lately is that the CBO estimates that Obamacare could result in 2 million fewer jobs without improving health care coverage. Democrats are absolutely desperate here, trying to spin this as a good thing: hey, look, a bunch of people get more leisure time. That’s great, right? Econ story time: during the 1970s and 1980s, some New Classical economists seized on the rational expectations theory currently in vogue and ended up (long story and mathematics short) making the argument that recessions and depressions are due to real—that is, non-monetary—shocks to the economy. Thus started the Real Business Cycle theory. One of the results of this theory was that the effects of a business cycle were rational from the point of view of individuals operating in that economy. Keynesian opponents mocked adherents for RBC thinking that all of those unemployed people chose leisure as the best alternative rather than being able to support themselves with jobs. Well, congratulations, Keynesians: the tables have officially turned.
- The other bit from the CBO: it’s only going to hurt 80% of Americans.
- It’s too bad nobody was around to say how bad Obamacare was going to be. Oh, wait.
February 14, 2014
February 13, 2014
Ken Salazar, no longer in a position where he might actually have some sort of responsibility, says that the Keystone pipeline is a good idea.
February 7, 2014
Steve Sailer has also looked at this study and has found serious problems with it. He focuses especially on a chart showing parts of the country with children who move from the bottom quintile to the top.
The chart, at a glance, is pretty absurd: West Virginia is an economic growth center, whereas Charlotte, the Triangle, and Atlanta are nowheresvilles. This explains why people have flocked to West Virginia and away from the new south.
Sailer’s note is that it seems like Raj Chetty, et al, do not really take cost of living into account. As Sailer notes, a child of two New York City residents who earn a modest amount moves to Charlotte. This person may make less than his parents but nevertheless has a higher standard of living, in that he can afford a house, car, and other accoutrements his parents would never be able to touch. Also, Sailer points out that the graph itself is a pretty good map of the percentage of black residents in an area.
February 6, 2014
- Everybody has a political voice…except Barack Obama’s political opponents.
- Speaking of killing free speech, Chuck Schumer is all for that.
- Obama doesn’t endorse Obamacare; Paco asks why we should expect his government agencies to enforce other things like a “brilliant” Republican plan to re-enact the best of 16th-century European society.
- Speaking of Paco (whom I have been neglecting link-wise lately), more on government dismissiveness of silly things like the law.
- So what happens when government fails? Other institutions step in. In this case, it’s a positive result.
February 5, 2014
- Uninsured people hate Obamacare as well.
- Pre-Obamacare plans become much more expensive. Remember when Obamacare was going to save the average family $2500 a year? But those people should look on the bright side: at least they haven’t lost their plans…yet…
- Sure, the whole Obamacare thing was a fiasco, but I think this makes up for it.
- Now that Obamacare has harmed workers (as well as the self-insured), President Obama cites his failure (without admitting it) as a reason to raise the minimum wage. As we know, when the government causes one miracle, they typically try a few more miracles to fix the first one.
February 4, 2014
The EPA, up to director Gina McCarthy, want to “re-arrange the economy at will,” in the words of Steve Hayward.
After TARP and the Stimulus fixed all of our economic problems, Obamacare fixed all of our health care problems, and Eric Holder’s Department of Justice fixed all of our legal problems, it makes sense that the EPA would get in on the game. Good thing we have a gigantic government around to fix all of our problems; otherwise what would we do?
February 3, 2014
Top Republicans are going all-in on amnesty, proving that top Republicans never learn. But don’t worry: these super-geniuses have a “new” idea (which really isn’t new): sure they’ll get amnesty, but ensure that they never get citizenship. Some Republicans, like Michigan governor Rick Snyder, are going a step further: let’s bind immigrants to the land. Because serfdom worked so well for Europe…
Dear Republicans: remember that The Road to Serfdom was a warning, not a how-to guide.
February 2, 2014
It looks like China’s one-child policy may finally be going away, with the agency overseeing this rule being phased out.
January 30, 2014
The best part of being a social scientist is that all you need is a tiny p value to say anything, no matter how stupid.
January 28, 2014
It’s been a while since I’ve done one of these, so I have to assume that Obamacare’s just hunky-dory now. Well, except for:
- Newly insured individuals visit emergency rooms more often than they did while uninsured. Considering that the cost per visit for these individuals goes down, why the shock?
- Colorado Senator Mark Udall tried to get state officials to lie about how many people lost their coverage due to Obamacare.
- Enrollment numbers are way below where they need to be. And of those who have enrolled, the majority (possibly a vast majority) already had insurance beforehand. I consider this a good thing: it means that the cancer has not metastasized into a small group of people who derive major benefits versus a widespread net of losses for others.
- And of the people who have signed up, most of them tend to be older and more expensive.
- Another Obamacare delay. Maybe they should just delay the whole bill, say, for a century. They should be able to get the kinks worked out by then.