The Patient Protection and Affordable Care Act (Obamacare) is the most divisive piece of major legislation in the last 100 years. As Michael Cembalest at JP Morgan points out in his “Eye on the Market,” Obamacare has the highest partisanship gap ever. In the House, 87% of Democrats voted Yea, while 0% Republicans voted Yea, creating a partisan gap of 87%. In the Senate 100% of Democrats voted Yea while 0% Republicans voted Yea creating a partisan gap of 100%. Throughout the last 100 years the parties have been able to agree on legislation, but this time around Democrats came up with such a bad idea they couldn’t even get one Republican to vote for it. That’s telling since major bipartisan support was even behind such ridiculous ideas as alcohol prohibition.
The following two tabs change content below.
Preparing your investments and family for when disaster strikes.
E.J. Smith is Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at email@example.com. Sign up here to receive all the best content from Richardcyoung.com each week.