15 March 2010

The Health Care Show Stopper

Coyote Blog | Health Care Fiscal Problem in a Nutshell

Via John Stoessel:
Medicare already faces a $30 Trillion deficit. The bigger issue is that Democrats are poised to make cuts in Medicare — something that is incredibly difficult to do — but instead of applying those cuts towards Medicare, they are applying it towards a lavish new entitlement program.
Of course, that assumed that the spending estimates for the new health care plan are meaningful, which is highly unlikely, since every single entitlement of this kind has always vastly outspent its initial estimates. Greece, here we come.
I don't even need to discuss the social contract, and wether health care is a right, and what the efficacy of insurance is, and what the impact on innovation will be, and all the other philosophical and implementation details.* I get off the bus as soon as we run up against this problem.  It just strikes me as preposterously irresponsible to build a giant addition before you get your house in order.

I understand the political desire to seize the opportunity and the momentum and pile everything into one huge new program that bundles the brussels sprouts and the chocolates together, but from out in the real world that seems about as wise as pounding a fifth of Jack and diving headfirst into a flooded quarry.


(* I mean, I definitely do discuss these things, sometimes at perverse lengths. But that's just because I'm a huge nerd and I can't help myself.)

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