Latest figures indicate that Obamacare made Americans richer

Pro-Obamacare demostrators lobbying outside the U.S. Supreme Court. PHOTO/Carolyn Kaster/Associated Press

U.S. President Barack Obama’s 2010 health law (Obamacare) was responsible for about three-quarters of a surprising January rise in U.S. consumer spending and American income growth, according to calculations by the Wall Street Journal.

While not exceptional, the gains were significant: a 0.4 percent rise in consumer spending (US$45.2 billion) and a 0.3 percent rise in personal incomes (up US$43.9 billion), according to new figures released by the Bureau of Economic Analysis.

So what exactly did the Obamacare rollout do to cause such a rise? For one, it expanded the Medicaid program, a critical and highly controversial aspect of the law, by adding up to a US$19 billion in benefits in January. On top of that, health care enrollees additionally received another near US$15 billion in the form of tax credits as a result of the rollout.

Read more: Huffington Post