Ramirez: The real ObamaCare “death panel”
posted at 2:30 pm on February 8, 2014 by Ed Morrissey
Investors Business Daily’s Michael Ramirez, their two-time Pulitzer winner in editorial cartooning, distills the latest CBO report on ObamaCare to its essential:
Here’s one more look at my most recent column at The Fiscal Times, on the difference between Obamanomics and Reaganomics:
The bet paid off with a massive economic expansion that added almost 7.2 million jobs in the two years between the midterms and Reagan’s re-election in 1984. By the time Reagan left office in January 1989, the American economy would add 16 million jobs and raise the percentage of the population in the workforce from 63.9 percent to 66.5 percent.
Fast forward thirty-two years, and the contrast is striking. Once again, we have a President asking America to stay the course, only this time we have almost five years of failure already on the record. And yet, rather than offer any hint of recognition of the failure of his policies, Barack Obama offered a laundry list of policies recycled from a litany of failures. …
Obama claimed that his policies had resulted in “more than eight million new jobs our businesses have created over the last four years.” Strictly speaking, this is close to the right number for that specific time frame, which is actually 7.5 million from December 2009 to December 2013.
That ignores the job losses that occurred between the start of the technical recovery in June 2009 despite the passage of the $800 billion stimulus bill in early February 2009, chock-full of promised “shovel-ready jobs” and other measures that would prevent the unemployment rate from hitting 8 percent.
From the start of Obama’s economic policies to the latest figures from the Bureau of Labor Statistics, we have only added 4.77 million jobs. Spread over 55 months, this averages less than 87,000 jobs added a month – far below the 150,000 per month needed to keep pace with population growth.
So the “death panel” is not just ObamaCare, but Obamanomics. The last couple of jobs reports have merely underscored this conclusion.
Also, be sure to check out Ramirez’ terrific collection of his works: Everyone Has the Right to My Opinion, which covers the entire breadth of Ramirez’ career, and it gives fascinating look at political history. Read my review here, and watch my interviews with Ramirez here and here. And don’t forget to check out the entire Investors.com site, which has now incorporated all of the former IBD Editorials, while individual investors still exist.