Obama’s overhaul would also change how private firms insure workers. Perhaps 18 million workers could lose coverage and 16 million gain it, as companies adapt to new regulations and subsidies, estimates The Lewin Group, a consulting firm. Private insurers argue that premiums in the individual and small group markets, where many workers would end up, might rise an extra 25% to 50% over a decade.
The administration and the CBO disagree. The dispute underlines the bills’ immense uncertainties. As for cost control, even generous estimates have health spending growing faster than the economy. Changing that is the first imperative of sensible policy.
So Obama’s plan amounts to this: partial coverage of the uninsured; modest improvements (possibly) in their health; sizable budgetary costs worsening a bleak outlook; significant, unpredictable changes in insurance markets; weak spending control. This is a bad bargain. Benefits are overstated, costs understated.
This legislation is a monstrosity; the country would be worse for its passage. What it’s become is an exercise in political symbolism: Obama’s self-indulgent crusade to seize the liberal holy grail of “universal coverage.” What it’s not is leadership.
I find that Samuelson is one of those few not bad economics writers who has little understanding of governing. He has great analysis, and then comes up with some kind of politically suicidal idea that means the working class gets screwed.
“So Obama’s plan amounts to this:”
Turn the Democrats’ mini-majority loose to find its least common denominator to do something rather than nothing. I have a hard time locating any greater “plan” than this emanating from the White House.
Come to think of it, if you substitute “oligarches” for “democrats”, this was the identical “plan” that he successfully put in place in Copenhagen.
It is my understanding, (though I may be wrong, since nobody who hasn’t been in Reid’s office helping to design this camel* has had a chance to read it) that the bill’s provisions will not apply to Congress or federal employees. That means that everyone who does not belong to the ruling cabal gets screwed. The beauty of marxism is that economic “classes” vanish, to be replaces by a distinction between the powerful and the powerless. Thus everyone gets “screwed”, especially those who actually work for their own support.
*Camel: A horse designed by committee.
I suspect that a good many of the Senators and their staff members have read it as well as White House staff members. I also gather that the bill that will be considered this week in the Senate is in the Government Printing Office and will be posted on the Internet shortly.
I also suspect that the Senate and staff that have read the bill include members of the minority have read it–otherwise their criticisms are just as irresponsible as praise from those who have not read it.
To “suspect” is not to “know,” Septuagenarian. And given that Congress and the president have already reneged on their campaign promises to post bills on-line for a certain number of days before voting, I don’t take it for granted that they have read it. Sen Reid’s 383-page amendment was read on the senate floor, only because the Republican senators insisted, but there is no indication that they have all read the original House bill that the Senate passed this amendment to. And after seeing the pay-offs that Louisiana and Nebraska got, I’m just upset my senators rolled over too quickly – they should have held out longer so we, too, could have gotten more taxpayer money.