<- Cick here
Am watching President Obama tell America why one seventh of the economy needs to be taken-over by the government. Why $500 billion of the payment for the take-over must come from senior citizen care. He explained that he can find this amount in wastage. I've heard government explain how it was going to pay for so much through increased efficiencies. It's not ever happened in my lifetime, so I'm skeptical that this $500 billion will come from waste.
The thing is that policy makers must choose between access and quality unless they can find large amounts of additional health care dollars. If 46 million additional people will lay claims against the existing amount of health care resources, then someone will have to determine who gets what. That rationing... if not done by price... will be done by panels. And if the amount available is specifically reduced by $500 bilion to senior citizens who use the most health care... then those panels will disproportionately ration health care away from the needs of the elderly. Death panels?
Last time the President spoke he promised that government control of health care would decrease costs... tonight he promises us budget neutrality. That means no cost increases. What's next?
There's nothing I can do about any of this. As an economist, I'm terrified. I am going to go and buy a bunch of gold since the first victim of all of this will have to be the dollar. And ... and... As I watch and worry... I'm doing pictures as distractive therapy. And it seems as if the face of youth... who will get the bills for all of this... resonates most strongly with me.
There will be a wave of fury whipping across the land tomorrow. No two waves. They will collide. I hate this.