“A step closer to national bankruptcy”
That’s what Russ Roberts calls the new Healthcare legislation. He also muses on what’s wrong with the current system:
The current system of health care—a mish-mash of top-down regulation and private attempts to respond to it—is bankrupt, both intellectually and financially. It is a nominally “private” system but the hand of government is the dog, not even the tail that wags the dog. Given the role of medicare reimbursment, and the tax-advantaging of generous private plans, there is very little room left for the invisible hand. The simple way to say it is that too little health care is currently paid for out of pocket. The patient is not the customer. And the current system is broke. The generosity of the system cannot be maintained int he face of the aging of the population.
And he points out the fatal danger, and why we must act quickly to stop this cancer:
People like having other people pay for their health care.
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