With the GOP Healthcare fiasco wrapping up, I have been thinking about the outlook of this country and how this will affect the future of this country. Here are some facts with the relevant government data:
- Since October 2013, Medicaid has added 16.7 million new members
- Since October 2013, the US economy has added 9.3 million jobs
- To qualify for Medicaid, you need to be under the age of 65 and earn less than 133% of the Federal Poverty Line, which is $12,060 for individuals, which means you need to make less than $16,040, which for a full time (assuming 40 hours/week) is ~$8.00/hour.
- Federal minimum wage is $7.25/hour, and many states have higher floors. For example, California is $10.50/hour.
To me, this means that nearly twice as many people have opted to not work and get Medicaid (in addition to whatever welfare is available) than are willing to work even a minimum wage job and have a quality of life, economic mobility and have some dignity in the fruits of their labor. Everybody should be proud of something - if not work, then what else?
What sort of a picture do these stats give about our country or economy here in the US? Are there any additional statistics that should be considered that I have overlooked?
Curious to know what WSO thinks this means.
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