Saturday, July 16, 2011
Wyoming Republican John Barrasso said today that he plans to introduce a bill next week that “will deliver choice to Americans who want to get the care they need, from the doctor they want, at a price they can afford” by allowing all Americans to apply for a waiver from the president’s health care law.
“If the law worked well, companies and unions would not demand a way out of its expensive mandates. Each waiver demonstrates that the President’s health care law is a complete failure. The law continues to crush jobs, increase premiums and encourage government controlled health care,” Barrasso said in a written statement. “It’s not fair that a particular group of Americans, including union employees, don’t have to abide by the law. Millions of other Americans across the country deserve the same freedom,” he said."
"Following another week of weak economic data, we have cut our estimates for real GDP growth in the second and third quarter of 2011 to 1.5% and 2.5%, respectively, from 2% and 3.25%. Our forecasts for Q4 and 2012 are under review, but even excluding any further changes we now expect the unemployment rate to come down only modestly to 8¾% at the end of 2012.
The main reason for the downgrade is that the high-frequency information on overall economic activity has continued to fall substantially short of our expectations. … Some of this weakness is undoubtedly related to the disruptions to the supply chain—specifically in the auto sector—following the East Japan earthquake. By our estimates, this disruption has subtracted around ½ percentage point from second-quarter GDP growth. We expect this hit to reverse fully in the next couple of months, and this could add ½ point to third-quarter GDP growth. Moreover, some of the hit from higher energy costs is probably also temporary, as crude prices are down on net over the past three months. But the slowdown of recent months goes well beyond what can be explained with these temporary effects. … final demand growth has slowed to a pace that is typically only seen in recessions. .. Moreover, if the economy returns to recession—not our forecast, but clearly a possibility given the recent numbers "
But he sure does sound smart when reading from the teleprompter, doesn't he? Don't forget every one one of those temporary government census jobs, and 50,000 McDonald's jobs cost taxpayers $278,000 in stimulus money.