Health care ruling: one day later, money floods in for both sides
They say politics is war without bloodshed; one day after the Supreme Court’s healthcare ruling, the “war” consists of loads of financial support for both sides of the debate and loads of criticism.
Now that the Supreme Court has validated one of President Obama’s biggest legislative victories, Romney’s campaign is kicking into overdrive. Immediately after the ruling, the Republican nominee began collecting a turbulent reel of donations that have now amounted to over $4.6 million.
Of course, his campaign’s announcement of these funds was met with snarky rhetoric from the Obama administration.
“It’s perverse that Mitt Romney won’t share details about what he’d do for the millions he’d leave uninsured or at the whims of insurance companies when he ‘kills Obamacare dead,’ but he’ll share the hourly details of his fundraising after the Supreme Court ruling,” campaign spokesman Ben LaBolt said in a statement.
LaBolt went on to say, “We’ve outraised the Romney campaign in that time period, but that’s not the point.”
Romney maintains that a nationally mandated healthcare law is detrimental to American prosperity. He says that, by adding to the national debt, it would in fact worsen the very problem it aims to solve.
Meanwhile, political campaigns aren’t the only entities profiting off of the court’s decision.
Hospital stocks rose sharply after the ruling — a result of the millions of additional medical patients they have received as a result of the law. More patients, more customers, more profits.
Insurance companies, on the other hand, are not profiting from the situation because, as chief derivatives strategist for TD Ameritrade JJ Kinahan told the Associated Press, insurers “have to be less selective of their clients, which is bad for them.”
Speculation aside, as dollar signs flash across the eyes of individual industries and organizations, the U.S. can only wait to see how the healthcare ruling will affect the American financial system as a whole.