Obama: 'There Was No Economic Rationale' for Shutdown Fight Over Obamacare, Debt
There was "no economic rationale" for the fight over Obamacare and the debt ceiling that shut down the government, Pres. Obama declared today.
In a speech addressing the deal he signed into law last night, Obama said:
"At a moment when our economic recovery demands more jobs, more momentum, we've got yet another self-inflicted crisis that set our economy back. And for what?
"There was no economic rationale for all of this. Over the past four years, our economy has been growing, our businesses have been creating jobs, and our deficits have been cut in half. We hear some members who pushed for the shutdown say they were doing it to save the American economy -- but nothing has done more to undermine our economy these past three years than the kind of tactics that create these manufactured crises."
- The growth of U.S. debt has doubled the increase in GDP in the past two years,
- Obamacare will cost $2.6 trillion in its first decade,
- Obamacare is already cutting jobs and employee hours,
- Obamacare is dramatically increasing the cost of insurance: 99% for men, 62% for women
With the shutdown over, Obama said, it's now time to pass comprehensive immigration reform legislation - a move that, if successful, is estimated to cost the U.S. billions of dollars.