Obamacare Performs Miracle Time Machine Destruction of Past Economy

Pablo Martinez Monsivais/AP

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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?

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IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

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