Universal Healthcare Will Render Us Poorer
The democrat health-care system is a systematic move toward a single payer universal health-care system. President Barack Obama has contended that the private system will continue to exist, but on an interview with SEIU, said that the public system will eventually crowd out private insurance, affirming his ultimate goal.
Driving out private insurance is especially dangerous for the American economy. A recent study by economist Arthur Laffer says that the current proposal will increase costs, medical price inflation, and still leave 30 million uninsured. He further says that this kind of reform “would render U.S. citizens poorer and their federal and state governments sorely pressed for revenues.”
Dr. Lafferâ€™s research concluded that the current proposals being discussed in Washington would:
- raise total federal government expenditures by 5.6 percent more than otherwise, adding $285.6 billion to the federal deficit in 2019;
- increase national health care expenditures by an additional 8.9 percent;
- raise medical price inflation 5.2 percent above what it would have been otherwise;
- slow U.S. economic growth in 2019 by 4.9 percent less than the baseline scenario of doing nothing;
- increase the current net present value of funding health care reform based on President Obamaâ€™s priorities by $1.3 trillion (due to higher medical inflation and expenditures), or $4,354 for every man, woman, and child in the U.S.; and
- still only insure about one-third of those currently without insurance â€“ at a cost of approximately $62,500 per new person insured.