Best of the Week
Most Popular
1.Stock Market Crash and Recession Indicator Warning: Extreme Danger Ahead - Harry_Dent
2. Is This How World War III Begins, In Almost Complete Silence? - Jeff_Berwick
3.Trump Wins 2nd Presidential Debate, Betfair Betting Markets Odds Bounce - Nadeem_Walayat
4.Why Krugman, Roubini, Rogoff And Buffett Dislike Gold - GoldCore
5.End of SPX Stock Market Correction Nears - Tony_Caldaro
6.Get Ready for the Future - Exponential Machine Intelligence Mega-trend towards Singularity - Nadeem_Walayat
7.US Housing Market Bubble II – It’s Happening Again! - Andy_Sutton
8.FTSE BrExit Stock Market Panic Crash Resolves towards New All Time Highs - Nadeem_Walayat
9.Can Trump Still Win Despite Opinion Polls, Bookmakers and Pundits all Saying Hillary has Won? - Nadeem_Walayat
10.Gold’s, Miners’ Stops Run - Zeal_LLC
Last 7 days
This Past Week in Gold - 24th Oct 16
Can Gold Continue To Rise, Since The Usd Is Moving Higher Too? - 24th Oct 16
Why are Americans Avoiding the Stock Markets; Fear or Lack of Money? - 24th Oct 16
The US Is NOT a Low-Tax Jurisdiction - 24th Oct 16
Stocks, Crude Oil and EURUSD Trend Forecasts - 24th Oct 16
Stock Market Another Month to Go? - 24th Oct 16
Large Sell-off in Stock Market Looming - 24th Oct 16
Ungovernability - 24th Oct 16
Stock Market Boredom Before The Storm - 24th Oct 16
Establishment Mainstream Media Elite Buys US Election for Hillary Clinton, Time Running Out for Trump - 23rd Oct 16
Inflation About To Explode Higher - 22nd Oct 16
Still waiting for SPX uptrend to kick off - 22nd Oct 16
Will a Rising US Dollar Crush Gold’s Fledgling Bull? - 22nd Oct 16
Why The Global Economy Will Disintegrate Rapidly Back to Olduvai Gorge - 22nd Oct 16
GLD Bleeds Out; Weekly Gold Update - 22nd Oct 16
Stock Market Investment Success Through the “Investment Rule of 72” - 21st Oct 16
The Final Bottom in Gold - WHEN - 21st Oct 16
Gold Green Lights Upleg - 21st Oct 16
Demand for US Mints Silver Eagles has ‘Returned with a Vengeance’ - 21st Oct 16
Central Bankers Can't Stop The Death Blow Of The Post US Election Recession - 21st Oct 16
The Fortune at the Bottom of the Pyramid: Golden Opportunity for Frontier Asia - 21st Oct 16
Have You Taken These 4 Simple Steps to Improve Your Trading? - 21st Oct 16
The Stock Market is an Accident Waiting to Happen - 20th Oct 16
It's Rally Time for Gold and Silver Equities - 20th Oct 16
Cashless Society – Risks Posed By The War On Cash - 20th Oct 16
China's insane Housing Market Will Tumble and Crash in 2017 - 20th Oct 16
Donald Trump Bounces Going into 3rd and Final US Presidential Election Debate - 20th Oct 16
Attention Please: Phase Two of the Gold and Silver Train Now leaving the Station. All Aboard? - 19th Oct 16
How to Successfully Trade a Stock Market Crash - Black Monday October 19th 1987 - 19th Oct 16
Tesla, Apple and Uber Push Lithium Prices Even Higher - 18th Oct 16
Silver, Debt, and Deficits – From an Election Year Perspective - 18th Oct 16
UK Property Market: Slow Growth Does Not Equate To Decline - 18th Oct 16
Trump Election Victory is in Your Power - 18th Oct 16
Stock Market More to Come! - 18th Oct 16
This Past Week in Gold and Silver - 17th Oct 16
A Falling Stock Market Cannot Be Allowed - Financial Repression Is Now “In-Play”! - 17th Oct 16
Commodities, Forex and Stock Market Trend Forecasts - 17th Oct 16
Stock Market Crash..or No Crash? - 17th Oct 16
A perspective on risk rally – Risks abound but Stock Market is Confident - 17th Oct 16
Bank of England Blames Brexit for Sterling Drop Inflation, Masks QE Money Printing Cause - 17th Oct 16
From Piety to Pride to Pity, America's Racial Divide - 17th Oct 16
Is Obama Juicing US Government Spending To Get Hillary Clinton Elected? - 16th Oct 16
Seek Your Independence: Anything Else Will Destroy You - 16th Oct 16
SNL - US Presidential Debates, 1st, 2nd, VP - Like You've Never Seen them Before! - 16th Oct 16
End of Economic Growth Sparks Wide Discontent - 16th Oct 16

Free Instant Analysis

Free Instant Technical Analysis

Market Oracle FREE Newsletter

LEARN to Trade

Yes, Obamacare Created Jobs. But Guess Who Got Them...

Politics / US Politics Sep 04, 2013 - 12:46 PM GMT

By: Money_Morning


Garrett Baldwin writes: One of the real Obamacare facts we've shared with you is how the Affordable Care Act will influence private employers to cut hours and jobs across the nation.

There is one group of workers, however, that is still raking in new job opportunities at a stunning rate, thanks to Obamacare.

I'm talking about lobbyists.

Since Congress passed Obamacare, lobbyists have been in high demand by Fortune 500 companies.

Companies like Delta Airlines, UPS, BP America, and Coca-Cola hire lobbyists to help navigate the bill. These lobbyists will remain in high demand until at least 2020 - when some portions of the law will finally be implemented - to help change requirements and seek exemptions.

This grand lobbying push isn't new in Washington, D.C. We've seen a similar lobbyist rollout with previous legislation like the Dodd-Frank Act.

But the Obamacare lobbying highlights a growing trend in Washington. It highlights another "revolving door" that exists: the one between the halls of Congress and the boardrooms of corporations looking to game the system...

Obamacare Facts: Healthcare Is Lobbying on Steroids

According to OpenSecrets, hundreds of former congressional representatives and senators are currently lobbyists or senior advisors to companies, helping to influence the very government on which they once served.

It wasn't always this way.

In 1974, only 3% of retired or defeated congressmen became lobbyists.

Then in 2009 U.S. President Barack Obama said his administration would reduce the influence of lobbyists in Washington.

A funny thing happened...

His policies' lack of bite fueled an increase in what has long been a favorite pastime for Washington elite, particularly members of Congress.

Now, according to author Mark Leibovich, about 50% of former senators are lobbyists, in addition to 42% of former congressmen.

That means the people scoring cozy, high-paying spots at some of the premier K Street firms are congressional staffers, legislators, and regulators - all who helped craft legislation like Obamacare.

Former Rep. Earl Pomeroy, D-ND, for example, was a critical voice on healthcare and tax issues as a member of the House Ways and Means Committee. Pomeroy and his former Chief of Staff Bob Siggins joined lobbyist shop Alston & Bird in 2011, after his district-race defeat to Rep. Rick Berg, R-ND.

And it's not just acting members of Congress who voted to serve their constituents - it's also staff members who worked for these lawmakers...

Avenue Solutions, a K Street firm, hired Yvette Fontenot, who worked on the staff of the Senate Finance Committee and U.S. Department of Health and Human Services' Office of Health Reform. The Finance Committee wrote key tax provisions of the law, whereas the Office of Health Reform will be responsible for the law's implementation. Fontenot now lobbies on behalf of the Blue Cross Blue Shield Association and the National Electrical Manufacturers Association, according to reports.

There are many more stories of former lawmakers and public servants who turned influence into a six- and even seven-figure salary. The average pay raise is 1,452% for such opportunities, according to Republic Report. That's how Obamacare has created a windfall for some.

These facts about Obamacare lobbying point to an accelerating trend in American business, one that has distorted the free market and invited greater amounts of regulation into the lives of every American...

Obamacare and the Rise of the Fifth Rail

Lobbying spending in 2012 by U.S. corporations was near record levels at $3.31 billion and is expected to be even higher in 2013.

I like to call this the "Rise of the Fifth Rail" in competition among rivals.

You see, in more traditional free markets, companies and competitors go head to head on the "four P's": price, product quality, promotion, and place (market access).

But over the last decade, we've seen companies competing on a fifth "P": public policy.

Companies are using Washington insiders as a competitive tool, by paying lobbyists to influence and circumvent laws. This has distorted the markets and driven fair competition into the ground. It has also hollowed out the American free market from the inside.

Using public influence over private sectors is the hallmark of corporatism and fascism. And over time, if unchecked, this system will stifle innovation, hinder competitors who can't afford K Street's services, and drive a greater divide between the rich and the poor. The poor will never have the means to influence change.

This is how the facts about Obamacare show us how much structural decay there is in markets and competition.

Bottom line: Corporate influence is alive and well, and the playing field isn't being leveled in favor of ordinary Americans.

This is just another of the disappointing facts about Obamacare. Go here for the full list.

Source :

Money Morning/The Money Map Report

©2013 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email:

Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication, or after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended by Money Morning should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

Money Morning Archive

© 2005-2016 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife