Americans on main street may have a bleak outlook on the Obama economy in 2014, but President Barack Obama's Wall Street campaign donors and friends are scoring record profits off the Obamacare debacle--a reality that may further complicate Democrats' "income inequality" message when voters head to the polls in November.
The most recent Gallup poll finds that 56% of Americans believe the economy is getting worse. For Obama's big money backers, however, the Obamacare fiasco has generated massive profits and contracts. In 2008, the healthcare industry contributed an astounding $22,471,562 to Obama--a sum nearly three times greater than it donated to his Republican challenger. Their "investment" paid off in 2013, as the healthcare sector index gained 37.5%, making it the S&P 500's best-performing sector.
That means big gains for Obama's big donors, notes Government Accountability Institute President Peter Schweizer. For example:
- UnitedHealth Executive Vice President Anthony Welters raised over $500,000 for Obama in 2012. Wall Streeters expect UnitedHealth stock to rocket 40% over the next two years. UnitedHealth "also won big contracts to help implement the [Obamacare] rollout."
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