Over the last two weeks, versions of Trumpcare have made it out of hiding for consideration. Of course the media immediately jumped on the bandwagon pointing out various defects and generally slamming Trumpcare, often with bias rather than detailed facts.
It appears that Obamacare IS headed on the road to failure – but Trumpcare ain’t any better. Why? The largest problem with health care is not who will pay, or who it covers – but the rapid escalation of costs which make it unaffordable to most in the present system.
Like Skynet, Obamacare became fully operational in 2014. Since then, Americans have been paying more on health care (red line on the above graph). You read continuously how select groups of people are benefiting from Obamacare – but the average person is not.
Most of the media analysis of Trumpcare Vs Obamacare is line by line highlighting of who gains and who loses. This type of analysis misses the forest for the trees.
The REASON health insurance is a hot button subject is that the costs are outrageous to households. Since 1985, medical care costs have risen at twice the rate of inflation.
I am a trend person – trends continue until they do not. Nothing suggests to me that Trumpcare will be any more successful than Obamacare to rein in costs. And costs will kill whatever health care legislation that FIRSTLY does not address the outrageous cost inflation for health care. Something very bad is wrong with health care costs in the USA.
Costs rank number 1 in the world (by a large margin) and yet the United States enjoys 43rd position for average life expectancy.
Yes, something is very wrong with both health care costs and healthcare delivery.
I will continue NOT to support any health care plan unless it addresses costs – and Congress could start by looking at:
Pharmaceuticals – patent laws are preventing real competition – and support price gouging.
Tort Laws – they constrain the AMOUNT of procedures done
Education of medical professionals – a $200,000 price tag for doctors and 11 years of your life. A nurse carries at least a $20,000 price tag and two years (and more) of one’s life. This is not only too costly but takes up too much of one’s life.
Health Insurance – both Obamacare and Trumpcare tax the population by forcing medical coverage via insurance. The medical insurance industry is enjoying record profits.
Prevention – The medical system should be re-geared from solving conditions to preventing conditions.
A 2012 Atlantic Monthly post estimates that the country loses some $750 billion annually to medical fraud, inefficiencies, and other siphons in the health-care system.
Medical care in the USA needs a top to bottom rethink. The logic of Trumpcare and Obamacare to simply redistribute costs will eventually bankrupt the median household.
Other Economic News this Week:
The Econintersect Economic Index for March 2017 improvement trend continues although the value remains in the territory of weak growth. The index remains below the median levels seen since the end of the Great Recession. The data continues to suggest better dynamics in the future. Six-month employment growth forecast indicates modest improvement in the rate of growth.
Bankruptcies this Week from bankruptcydata.com: Answers (a/k/a Answers.com, Multiply Media and Answers.com), hhgregg, Privately-held General Wireless Operations (d/b/a RadioShack)