An alternative to popular faith
Despite all the claims and counter-claims, here are the facts about the proposed universal health insurance plan, whatever the specifics:
1. It will cover more people than now are covered by health insurance
2. It will lower rates for people who now pay high rates because of pre-existing conditions.
3. Therefore, the plan will cost money. No sleight-of-hand, no accounting tricks, can change that.
4. Trying to reduce costs by cutting pay to doctors, hospitals and pharmaceutical companies will reduce the number of doctors and hospitals and the amount of drug research – a self defeating idea.
5. Raising taxes also is a bad idea. History shows that higher taxes impede economic growth, while lower taxes stimulate it.
6. Put them all together – higher costs, no tax increases, no penalizing doctors, hospitals and pharmaceutical companies – and what is left? Federal deficit spending.
7. Increased federal deficits (unlike state, county, city, corporate and personal deficits) are infinitely sustainable, because the government has the unlimited ability to create the money to pay its bills. Despite massive deficit growth, no federal check ever has, or ever will, bounce.
8. Federal money creation has not caused inflation. In the past 50 years, the three years of greatest deficit spending – 1976, 1983 and 2009 – resulted in reduced inflation. Data indicates inflation is the result of oil prices, not federal spending
In summary, we should worry more about coverage than cost. To improve the lives of Americans (Isn’t that what this is all about?), the federal government should pay for the best possible health care insurance, and not spend endless hours trying to use magic to balance an unbalanceable budget.
Rodger Malcolm Mitchell