Professor Mark J. Perry's Blog for Economics and Finance
This CF&P Foundation video explains why healthcare proposals in Washington will result in bloated government and higher deficits. This mini-documentary exposes the pervasive inaccuracy of congressional forecasts and succinctly lists 12 reasons why Obamacare will be a budget buster.
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
8 Comments:
Mark,
Rising health care costs will cause Medicare to go broke sometime in the next 20 years. Without reform, there are only 2 options.
Let Medicare go broke. Increase taxes significantly.
Which of those do you choose?
Hey you rightwing lugnuts, any of you have health insurance through Aetna? Well, it looks like the insurance giant will be shedding 650,000 clients to meet profit revenue.
That's right, the sacrificial lambs gotta bleed for CEO Ron William's compensation ($24 million in 2008) - but none of you guys mind that, right?
Yeah, you tough guys can be real stoic when others suffer, but the moment life takes a big crap on you, you become as fragile as glass dolls. I've listened to suckers like you guys dial up radio programs, break out in tears because the health insurance company won't cover you daughter's surgery, and you're in debt of $17,000. You’re just as reactionary as those idiots who all say claim they want cutbacks in the Postal Service, to see it privatized, but the moment they find out there could cutbacks in service in their area, they instantly become the Postal Service’s best friends.
Too bad we have a spineless twerp running the country, and a moronic Congress too busy over verbal hand grenades to do anything. Oh well, at least we can see if those retail health clinics can treat the unisured for prostate cancer - lol!
Ten years from now, Russia and China will be laughing at our crumbling roads, our crashing currency and our imploding health care system. America's government is of the idiots, by the idiots, for the idiots; and as it's been said before, every democracy gets the government it deserves.
Machiavelli999,
If I were Mark, I would reject your second sentence and not take the bait of the false choice in the third and fourth sentences.
No one is arguing that the health care industry is in great shape. Granted, some are saying that it is in better shape now than if you do what Obama wants.
It can be made better with market reforms such as additional supply, pricing transparency, tax reductions, tort reform, and open health insurance markets.
For those that still cannot get coverage, a targeted package would be far more affordable and wise than the sweeping changes proposed in Congress presently.
Poor mach999 doesn't realize that Medicare is already broke...
"Let Medicare go broke. Increase taxes significantly"...
How about DUMP this Constitutionally dubious program called Medicare and consider the money that would be saved?
anon @ 12/04/2009 5:10 PM whines "Hey you rightwing lugnuts, any of you have health insurance through Aetna? Well, it looks like the insurance giant will be shedding 650,000 clients to meet profit revenue"...
I see you went to TARDNews for your outrage... Pretty funny...
What made you think the insurance companies are in the charity business?
So if you think the Aetna customers are getting the shaft why don't YOU open YOUR wallet and bail them out or buy legal services for them?
Health insurance has to cover administrative costs also...
Medicare Advantage is a boondoggle for insurance companies. I'm glad it is being cut as part of the reform package to save money. We can start there.
The average taxpayer pays for his healthcare, his family, the elderly and the poor. Now, he is also going to have to pay for the rest of the country including loafers, part timers and illegal immigrants. This legislation reduces choice and will have many unintended consequences.
There will be a change in mindset in the 5% most productive Americans. They will focus on tax avoidance instead of innovation. They will retire early instead of expanding their businesses. Government will consume the private sector causing stagnation with high unemployment. The economic costs of this scheme along with tax hikes will cause widespread economic pain.
Anonymous said...
Hey you rightwing lugnuts, any of you have health insurance through Aetna? Well, it looks like the insurance giant will be shedding 650,000 clients to meet profit revenue...
So they're rasing prices to match rising costs and to you that's the end of the world.
Guess what, people can chose cheaper alternative providers. If nuts like you had any say, there'd be only one choice.
And you can take the rest of your drivel and post it back on the Huffington Post where people actually believe it.
You really think "rightwing lugnuts" care about cuts in Postal service? Really? I've never heard anyone complain about the proposed cuts, ever. In fact people want them to cut so they stop losing money.
And I don't think I've even known anyone who's actually called into a talk radio show. Well one guy who called into a sports show.
Sorry, I've had deaths in the family, had friends with deaths in the family, divorces, medical problems, bankruptcies, etc. and none has ever gone running to nanny government for help. They've always had it among friends. Sorry your Huffington Post freinds are so selfish.
As a "rightwing lugnut" (try driving a car without lugnuts), I'd like to hear the anonymous leftard respond to the video in this post, as opposed to his "impassioned" ramblings of how he/she/it feels about China and Russia, conservatives, radio shows and Ron Williams' income.
This is, after all, an economics blog.
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