Tom Blumer says that these five simple words explain what's going on in our economy: "Machines Are Exempt From ObamaCare".

On June 10, Catherine Rampell at the New York Times presented what she thought was a seemingly inexplicable and troubling conundrum, which this column will clear up:
Spending on equipment and software has risen 25.6 percent in the last seven quarters, while companies’ aggregate spending on employees has risen only 2.2 percent.

Somehow, capital spending is growing faster and labor spending is growing more slowly than has been the case in almost every previous recovery on record.

Just wait till the lefties convince the machines to unionize....

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