In coming weeks, we can expect the Republican-controlled Congress to push two Obamacare bills that would hike profits for some businesses. What we can't expect, from either Republicans or Democrats, unfortunately, is any effort to help families, even those with insurance, to stay out of bankruptcy court because of mounting medical bills.
According to reports, one of the first acts of the Republican Congress will be to fire Doug Elmendorf, current director of the non-partisan Congressional Budget Office, because he won't use "dynamic scoring" for his economic projections. Dynamic scoring is the magical-mystery math Republicans have been pushing since they came up with supply-side "trickle-down" economics. It's based on the belief that cutting taxes unleashes economic growth and thereby produces additional government revenue. Supposedly the added revenue more than makes up for what's lost when Congress hands out the tax cuts. Dynamic scoring would make it easier to enact tax cuts for the wealthy and corporations, because the tax cuts wouldn't look as if they increased the budget deficit.
If GDP growth is that dependent on workforce growth, and 1990s growth repeats itself -- which was the longest uninterrupted economic expansion in our history that also gave us four years of budget surpluses -- then we may see the next generation about to take charge. They could turn out to be much more industrious than we know!
You're going to hear a lot about Obamacare this fall, especially from Republicans. They'll try to convince you that it was a bad deal. They'll throw numbers at you to make you think that the cost of health insurance is spiraling out of control. In all likelihood those numbers will be incorrect, but how will you know?