About that 5% GDP Growth Rate…

" So what did Americans supposedly spend so much more on compared to the previous revision released one month ago? Was it cars? Furnishings? Housing and Utilities? Recreational Goods and RVs? Or maybe nondurable goods and financial services?

Actually no. The answer, just as we predicted precisely 6 months ago is…well, just see for yourselves.

 

In short, two-thirds of the “boost” to final Q3 personal consumption came from, drumroll, the same Obamacare which initially was supposed to boost Q1 GDP until the “polar vortex” crashed the number so badly, the BEA decided to pull it completely and leave this “growth dry powder” for another quarter. That quarter was Q3."

[Zero Hedge]

"We can only hope that exploding Obamacare costs don’t drive “personal consumption” any higher in future quarters, and also that this sort of statistical manipulation comes to an end when the endlessly corrupt Obama administration finally departs the scene."

[Power Line]