An Update On The Obama Economy

In October 2012, bajillionaire David Siegel of Westgate Resorts/“Queen of Versailles” fame had some voting advice for his employees, specifically, that hard-working makers like him might not be able to afford to employ the lazy schlubs of Taker America any longer if Obummer were to be re-elected.

At the time I told him to “… just Go Galt and leave us the fuck alone.” Ah yes, that was a righteous, cathartic rant. I feel good all over again just re-reading it.

So now, let’s check in with David Siegel. Is he, as he threatened,

“… in the Caribbean sitting on the beach, under a palm tree, retired, and with no employees to worry about.”

???

Why no, he’s not. In fact, instead of the promised layoffs, he just gave his employees a raise:

“We’re experiencing the best year in our history and I wanted to do something to show my gratitude for the employees who make that possible,” Siegel said in the release, which also said the company would be awarding merit-pay raises for “all eligible team members.”

Well, isn’t that special. Their best year ever! I’m sure it’s all due to David Siegel’s hard work and not one ounce of credit goes to the president’s economic policies.

(h/t, Zandar @ Balloon Juice)

17 Comments

Filed under economy, Republican Party

17 responses to “An Update On The Obama Economy

  1. Jim in Memphis

    Ha. I just read the news blip on the raises. He is not giving raises to those under a collective bargaining agreement – i.e. union members.

  2. “raising wages up to $10 per hour ” Gee, Mr. Potter would be proud.

  3. @Jim-
    Good to see your concern for the plight of Ivy League faculty. Compassionate Conservatism.

    • Aw that’s Jim pissing in the punch bowl again. Not worth bothering with. His posts should come with a Sad Trombone.

    • Jim attempts to piss in the punch bowl …and misses!

      “Particularly since many of the health policy experts at Harvard helped craft the Affordable Care Act, conservative writers have been quick to point out the irony: Ivy League elites are now unhappy with some of the changes under the very law that they championed several years ago.

      “But, as multiple health policy writers have pointed out, the changes coming to Harvard actually represent the implementation of some of the more conservative policies in the health law that are intended to reduce health costs over the long term.

      “Harvard University is requiring faculty to pay more out of their own pockets for deductibles and co-pays. Essentially, when they interact with the health care system, they’ll pay a little bit more than they used to — 10 percent of the total charges until they reach the out-of-pocket limit of $1,500 for an individual and $4,500 for a family. Meanwhile, their annual deductibles are rising to $250 and $750, respectively.

      “According to the New York Times, the chairman of the university benefits committee acknowledged that employees will now pay more than they’re used to for health services. But he also said that’s the point, at least in part, “because patient cost-sharing is proven to reduce overall spending.”

      “That refers to the traditionally conservative notion of “skin in the game” — in other words, the theory that requiring enrollees to pay for their interactions with the health sector will cut down on unnecessary doctor’s visits, tests, and procedures. This is what has driven the rise of high-deductible policies that offer low premiums but that require enrollees to pay more when they actually use their plans. Obamacare opponents typically argue that the law doesn’t do enough to encourage this kind of cost reduction strategy.”

      • Jim in Memphis

        I did not say it was a bad thing that the professors had to pay more for their healthcare. I said it was an interesting article and I find it funny that they are complaining about it. They must have believed Obama when he promised $2500 reductions in premiums as a result of the ACA. Who would have thought that covering more people for more healthcare would make healthcare costs go up? It is inconceivable right?

      • Who would have thought that covering more people for more healthcare would make healthcare costs go up? It is inconceivable right?

        But if you read the link, that’s not what’s happening. That’s not why costs are going up. They’re going up because conservatives are attached to this idea that people overuse healthcare so they need to “have skin in the game.”

        Furthermore, on the New York Times article, it says the faculty was taking a vote to keep the action from taking place, but they held their vote too late. Oops. Maybe they were all getting stoned at a bong party or something. Who knows. Article didn’t say.

        But you know, it’s really cute how you guys continually like to trash your own ideas.

      • Jim in Memphis

        I am not trashing the idea that people need to pay more for their own healthcare. I pay 100% of my premium, 100% of my deductible, and 100% of my employee’s premiums – so I understand paying more for health insurance. I am laughing that these people that supported the ACA are now complaining about what they supported. They are clueless on what they supported. They assumed Obama was telling the truth that their premiums would go down and the “rich” would be the ones to see their taxes rise. And just think – they still have not implemented the full effects of the law. I am sure there will be even more surprises as more of the bill comes into effect.

  4. The rate increases might also be related to the fact all the plans are offered by for profit providers. ( facepalm.)

  5. Randy

    “One of those compromises that the Republicans deny ever happened.”-SB

    Yes. Because if they did they could not claim dumping 43 million(+/- a few) new customers in the private insurance market was SOCIALISM. Arghh.

  6. democommie

    Good ol’ Jimbo(b) from Mumbles, TN. He puts me in mind of this clip https://www.youtube.com/watch?v=c-ecbGNxEHM @ about 1:09.

    Just substitute Jimb0(b) for “woman” and “human being with a functional brain” or “man”.