When the GDP shrinks, it's a reflection of lower levels of economic activity. Under normal circumstances a decline in health care spending would be offset with growth in other areas -- and exorbitant increases in insurance premiums are still economic activity even if we don't like paying them.
There's more to this than just ObamaCare. I suspect a big part of it is tied to increasing numbers of workers simply checking out of the workforce and reducing their purchasing considerably.
Right, keep telling yourself that, it can’t be bad economic policy theories by Marxist morons putting downward pressure on employers for the jobs trend, it must be the employees leaving the job market.
Rates have doubled, tripled and quadrupled. For those who haven't experienced it yet, they are aware of what is coming down the road. Discretionary spending has dried up.
Retail and restaurant chains were already suffering, now they will have no choice but to declare bankruptcy.
It's going to be very painful, but it was obvious what was going to happen. It was planned that way by people who hate this country.