Free Markets, Free People

Daily Archives: June 14, 2013

Economic Statistics for 14 Jun 13

Here are today’s statistics on the state of the economy:

Producer prices jumped 0.5% in May, while the core rate, ex-food and -energy, rose 0.1%. On an annual basis, prices rose 1.8% overall, and 1.6% at the core.

The nation’s current account deficit for the 1st Qtr came in at a smaller-than-expected $106.1 billion.

Foreign demand for long-term US securities rose to $-37.3 billion in April, the third consecutive monthly outflow of capital.

Industrial production was unchanged in May, while capacity utilization in the nation’s factories fell 0.2% to 77.6%.

The Reuter’s/University of Michigan’s consumer sentiment index fell 2.2 points to 82.7.

Dale Franks
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We can’t have ObamaCare effect these folks – they’re “federal employees” for heaven sake!

When I read articles like this they infuriate me.

Dozens of lawmakers and aides are so afraid that their health insurance premiums will skyrocket next year thanks to Obamacare that they are thinking about retiring early or just quitting.

The fear: Government-subsidized premiums will disappear at the end of the year under a provision in the health care law that nudges aides and lawmakers onto the government health care exchanges, which could make their benefits exorbitantly expensive.

Why?  Because there doesn’t seem to be any ability to relate their problem with the problems they’ve imposed on business through their ramming through this horrific legislation we call “ObamaCare”.  Even with the effects beginning to be understood, like that above, they don’t get it:

Rep. John Larson, a Connecticut Democrat in leadership when the law passed, said he thinks the problem will be resolved.

“If not, I think we should begin an immediate amicus brief to say, ‘Listen this is simply not fair to these employees,’” Larson told POLITICO. “They are federal employees.”

But apparently it is “fair” to the employees of business who, in some cases, will see 100% plus increases in their premiums.  It only becomes a problem when it effects who?  Why, ‘federal employees’, of course.  You know, our so-called “public servants”.  And then, apparently, only that subset of federal employees that work for Congress.  They seem oblivious to the fact that the same thing is happening in thousands of places and effecting multi-thousands of businesses.  Freakin’ clueless.

Even as mad as this made me, I got a chuckle out of this:

If the issue isn’t resolved, and massive numbers of lawmakers and aides bolt, many on Capitol Hill fear it could lead to a brain drain just as Congress tackles a slew of weighty issues — like fights over the Tax Code and immigration reform.

Talk about silver linings to storm clouds.