Wednesday

The fundamental problem with Obamacare:


The debates have raged; the rhetoric filling the airwaves and cluttering the printed media. Thus far the most divisive and heated arguments have centered on issues like “death panels” and the “public option”. Those are compelling issues to be sure but they are ancillary and simply derivatives of the larger more pressing concern.

The overriding concern is governmental control, intervention or meddling whichever term best suits your political perspective. Health care represents approximately one sixth of the economy of the United States; in more understandable terms that equates to about $2.5 trillion dollars, $2,500 billion or $2,500,000,000,000.

For all intents and purposes we are poised to turn over an entire industry to the government. The same government that has proved its incompetence in running Social Security, Medicare and Medicaid; all of which are teetering precariously in the edge of insolvency.

Social Security was supposed to be funded by a “lock box” which was long ago raided by well meaning politicians (The same promise we have with Obamacare). Along with Medicare and Medicaid these programs now threaten to swell in size to the extent that they will consume the entire federal budget in the not so distant future (The rosy estimate is about the year 2040, other estimates are less optimistic). In other words they have been so badly managed that they are doomed to insolvency.

Given the governments track record in managing social programs, or any other program, is it not reasonable to assume that any government sponsored health care program is destined to the same inefficient management and cost overruns. The large amounts of money involved are a breeding ground for corruption and waste.

I will concede that the health care industry is in need of reform. The question is this; “Are we going to take and industry from the hands of the free market and turn it over to the federal government”. The free market is at least accountable to regulations and free market forces. The federal government is not accountable except to the voters, who have already demonstrated that they are prone to terrible lapses in judgment.

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