Obama's Healthcare Nightmare

Economic cost of the wars is projected to be "$144 billion in fiscal year 2009, $130 billion in 2010, and — in what the administration concedes are “placeholder estimates” — of $50 billion for 2011 and beyond."

In the best case scenario there will be a savings of about 90 billion annually starting in 2011. Again, this is the best case scenario and the projections may not work out if events cause the American military to undertake more operations than expected or to keep extra troops in Iraq. Even using the 90 billion annual savings it is but a small fraction of the CBO projected average annual trillion dollar budget deficits through 2019. I'm certain the CBO has already accounted for these savings in their projections anyway.

Your answer to my question about getting a handle on the projected deficits:

The CBO projections are based on an impending stabilized economy and as mentioned above the very best potential war savings is less than one tenth of the 1 trillion dollar annual projected budget deficits. I'll pose the question again. Cut what cost? Have any specific cuts in mind?

The debt slows the economy in many ways including destabilizing the financial markets, devaluing the dollar, and putting the assets of all Americans at risk through inflation. How can you possibly think it does not affect the economy when nearly 20% of total taxes go towards paying the interest on the federal debt? Absolutely no governmental services or benefits are delivered in return for nearly 20 percent of our total Federal tax bill. "These funds could be re-invested in the growth of our own business, but must be shoveled out instead simply to service the interest on the Federal debt. These substantial funds are diverted by Government fiat from potentially constructive economic investments in one's own enterprise into barren interest payments to the world of strangers who hold these obligations of the Treasury of the United States."

 

Where have you been, Kemo sabe?

 

There is a healthcare crisis in america. Medicare expenses are growing and have been growing at 4 times the rate of inflation for decades. I think this is due to the fact that there are 2 paid lobbyists from healthcare providers (AMA, Big Pharma, HMO's, etc.) for every senator and representative in Wash. DC. Think about it.

The Medicare shortfall 20 years out, dwarfs the SS shortfall, by a factor of 3. Our 11 trillion US debt will grow to 50 trillion in 30 years (projection before the financial crisis) if we don't do something (and that debt will further reduce the value of the dollar along the way, which is the case for gold and holding some foreign stocks).

SF said he pays for his healthcare, but that's not exactly right. If he is still at AIG, he pays for PART of his healthcare, usually about 30% of a $1,000 per month family plan. That's about what I pay. The company is paying about 600-700 per month. That's a huge burden on companies. We have to stop the cost from accelerating at 4 times the inflation rate.

SF mentioned tort reform. My reading says it's a 30 billion a year issue, and solving it won't fix healthcare. We need bigger numbers.

The repubs passed prescription coverage under medicare, and forbade the govt. from negotiating for volume discounts on the drugs (payback for support from big pharma). We should be allowed to negotiate volume discounts, just like Wal Mart does. The bill was 650 billion for 5 years, we could get at least 200 billion out of that, or a 40 billion a year reduction.

The biggest thing to attack is probably end of life care. this is more than a quarter of medicare's 350 billion annual expenses, over 80 billion a year, for people in the last year of their life. We need some guidelines. My mother was not informed how near my aunt was to death, and she was told my aunt needed a tracheotomy, which was done 3 days before she died. Totally unnecessary.

Debate surrounds end-of-life health care costs - USATODAY.com

 

I clearly stated that's what I pay. I assumed it's understood that the employer kicks in.

I said we should start with tort reform.

 

is there a houston, california?

 

We have had tort reform here in Tx.

Tort Reform: Show Us Results | Mesothelioma and the Politics of Asbestos Litigation

My experience tends to corroborate this article. When I broke my wrist last year, I was in the hospital for 6 hours; had a 90 minute surgery. Un-negotiated bill, 16K to hospital, 4K to the surgeon. Negotiated bill was 4K to the hospital and 1K to the dr.; cost me a grand out of pocket. Anyone wonder why such a large discrepancy, where the grossest largest bill is given to the poorest (ostensibly, i.e. "uninsured") and the lowest bill to the middle class insured person. I think its industry intimidation, to scare the bejesus out of every person with the slightest chance to possibly afford health insurance to sign up and pay. They'll take your money when you're healthy, then find a way to drop you when you get sick, if you're not in a company plan. It optimizes their profit, and that's all the insurance companies are looking for.

 

The consumer (working man) always bears the brunt of increased costs to businesses. Their costs are passed along. Estimates of increased energy costs range from $850 to $2000 per family.

I didn't say it could be done. I said it should be done. If you'll recall, I also said that the politicians won't F with the lawyers.

Tort reform should include a cap on general damges and severe penalties for frivolous lawsuits. I'd define frivolous as one that you lose.