UPDATE: Another Op-Ed, this one by the usually reliably liberal Joan Vennochi in today’s Boston Globe.
Note that this legislation was passed while Mitt Romney was Governor. The Massachusetts law was touted as a national model, and yet it has added a lot to the state’s budgetary problems.
Washington can’t be as adventurous. Costing out a national healthcare plan, and figuring out how to fund it, is the current fault line for Obama. The president insists he can overhaul the healthcare system without adding to the deficit.
He should take this final lesson out of Massachusetts: Be honest about cost in the good times and make sure you can cover it in the bad.
To put it bluntly, the President is lying like a rug.
There is an excellent Op-Ed in the Wall Street Journal today entitled, The Dangers of Fannie Mae Health Care .
In it the author comments on why the short term advantages of government run health care will be outweighed by the long term problems it will cause.
Turning to public plans like Medicare and Medicaid for more efficient administration is a fool’s errand.
That is the key point of the article, the rest is supporting evidence.
The U.S. is unique because it alone is the source of half of world-wide profits that provide the payoff for the complex, lengthy, and expensive process of developing new treatments. When other nations construct their health-care systems, they ignore the impact of their pricing policies on R&D incentives. As the dominant R&D funding wellhead, we do not have that option.
So, Europe and most of the rest of the world can under invest or even non invest in medical technology secure in the knowledge that the US will bear the R&D costs while they reap the benefit at much lower cost.
Where have I heard something similar before? Oh wait, I know. Much of Europe under funds their military, secure in the knowledge that the US will pick up their defense costs by making sure we have a strong military.
Ironic that they use the money they save underfunding their military to try to fund the health care. Which is still underfunded because it’s “free”.
Anyway, read the entire article, it’s very thought provoking.
Above all else, always remember, TANSTAASFL!
Or as the bumper sticker says, “If you think health care is expensive now, wait until it’s free”.