Health Care’s Fate?

Needless to say Health Care is an issue that touches everyone. The new administration is looking to move toward a new methodology for curtailing the costs associated with keeping America healthy. According to the National Coalition on Health Care nearly 18% of Americans (46 Million) do not have health care. The issue is extremely frustrating for everyone involved. While I have heard many arguments both pro and con with regard to how to pay for the programs that have been promoted, I have not heard how the Health Care system would handle an additional 46 million participants. If the current US population is hovering around 300 million, how would the system handle a 15% increase in patient needs without an additional immediate increase of 15% more doctors, hospital beds, nurses, appointments, referrals, medications, pharmacists, etc, etc, etc.

Perhaps that’s why so much emphasis is being placed on upgrading the “systems capacity” of the Health Care system. If there can be a database available of “similar” outcomes based upon a specific course of treatment, perhaps this will help curtail the costs now currently incurred.However, what happens to those individuals with unique and unidentifiable illness. (Ever watch House?) Needless to say there will be those that don’t fit the model. What then?

The question that still remains is how do you upgrade the number of doctors within the system if it takes college, medical school, internship, and residency before one becomes available. More importantly, what happens to insure that you have a qualified specialist looking after your specific ailment? If it takes 10-12 years to get a student through this process, do we wait until 2021 before we allow an additional 15% of the population into the system?

All of this is predicated on the fact that this new system will reduce costs and provide greater numbers of Americans Health Care, no doubt worthy of inconveniences. The question that remains is how to pay for this system. The sites below reflect some of the opinions currently circulating.

Greg Mankiw’s Blog, The Healthcare-Competitiveness Fallacy

Greg Mankiw’s Blog, June 1st, 2009, It’s a Tie

Organizing for America, Healthcare

Health Reform’s Savings Myth

The following is from the Washington Post, not necessarily the venue that you would find an article like this but very much worth a read. Thank you Greg Mankiw’s Blog for this find.

Argentina, has beautiful weather

Want to learn what happened to Argentina and what some assume could happen here?

This is Wikipedia’s take.

Where is Federal Debt Headed?

Robert Samuelson looks at the President’s fiscal policy.

Update: Here, via Nick Schulz, is Samuelson’s point in graphical form:
Does this mean that TBT is worth purchasing?

What Happens Next?

How is it that we have no inflation, are in a recession, have the Federal government buying federally issued securities, while the Federal Reserve is acting to keep interest rates down, yet interest rates are going higher? Two sites which address the issue of federal debt and how it will affect the market and individuals are noted below. The first site reflects an article by John Taylor from the Financial Times. The following is an excerpt from that article:

Under President Barack Obama’s budget plan, the federal debt is exploding. To be precise, it is rising – and will continue to rise – much faster than gross domestic product, a measure of America’s ability to service it. The federal debt was equivalent to 41 per cent of GDP at the end of 2008; the Congressional Budget Office projects it will increase to 82 per cent of GDP in 10 years. With no change in policy, it could hit 100 per cent of GDP in just another five years.

The second article comes from Professor Greg Mankiw’s blog. Professor Mankiw is a renown economics professor, who teaches at Harvard University. His blog brings a unique perspective to the conversations trying to make sense of the direction of the government, marketplace, and world based upon the market downturn. One of the posts on his site is the following,

http://gregmankiw.blogspot.com/2009/05/fiscal-future-again.html