“Unsurprisingly, health care has been a major engine of the recovery in the jobs market.”
And yet ALL of this spending increase is simply the result of more hundreds of billions of conjured-from-thin-air “money” borrowed from the FedResBank by the Fed government and funneled to state Medicaid programs and/or simply directly handed out as subsidies on exchange insurance polices. The economic impact is not sustainable and will collapse if/when the extra money is withdrawn and/or becomes increasingly worthless as money-printing continues unabated.
This kind of health-care spending is simply another form of “stimulus” spending by the government.
Makes you wonder what security is promised to the Fed for the loans.