Cantor Says Medicare Still on Chopping Block
Look for Ryan’s Medicare privatization plan, devised by the Republican sponsored Heartland Institute, to appear again during the next several budget debates and during the discussions by special Congressional Supercommittee on the Budget.
Everyone agrees that the health care delivery system in this country is too expensive. The US overall spends 17% of GDP on health care. The average in industrialized countries is approximately 11% and their outcomes are better. But how will shifting these high costs to seniors reduce the underlying cost problem within the health care delivery system? That doesn’t make good economic sense and will cause more families to either abandon their elderly parents or cause them to finance part of the costs. Moreover, as future participants in Medicare phase out of the system, those who remain in it will either see higher costs or fewer benefits.
Again the problem that the country faces, including every business that offers health care, is that the overall health care system is too expensive and eats up too much in the way of company profits that could be passed along in higher wages and in national GDP. Instead of cutting people off, the GOP needs to attack the real problem. Shifting costs fails the reality test – and serves no one well.