Obamacare Performs Miracle Time Machine Destruction of Past Economy

Pablo Martinez Monsivais/AP

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.


In Wednesday’s debate, Carly Fiorina said this: “We have 400,000 small businesses forming every year in this country….The bad news is, we have 470,000 going out of business every year. And why? They cite Obamacare.”

Later that night, I spent more time than I’m willing to admit trying to track down that number for business closures. Today, via Steve Benen and the Washington Post, I found it: it’s from a 2014 Brookings study about business dynamism. Annotated chart below. So there we have it. Mystery solved. Small business closures have been rising steadily since Reagan was president, and in 2011 the number hit 470,000. And the reason they closed is because of Obamacare. Who would have guessed?

We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

payment methods

We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate