From Paul Krugman yesterday
"More when we have some details.
But two key points:
1. Privatizing and voucherizing Medicare does nothing whatsoever to control costs. We’ve seen that from the sorry history of Medicare Advantage. I’m sure that the Republicans will claim savings — but those savings will come entirely from limiting the vouchers to below the rate of rise in health care costs; in effect, they will come from denying medical care to those who can’t afford to top up their premiums.
Oh, and for all those older Americans who voted GOP last year because those nasty Democrats were going to cut Medicare, I have just one word: sucker. "
I have been saying this for over a year.
The GOP plan is to balance the budget on the backs of the elderly. They WILL eliminate Medicare & cut Social Security. Will you please take your head out of the sand (or whatever dark place it's been) and read the plan.
There is a reason and method - the GOP works for big business and the wealthiest Americans who have no intention of paying their share of taxes to provide the bare essentials of life to the elderly or the poor. They need your permission to slash your throat.
And you're giving it.
Obamacare already screwed the elderly taking care from them to give it to the uninsured. Krugman us an idiot he's always wrong and nothing more than a lying liberal hack that should never be taken seriously.
Sounds like health care costing too much is the problem..
Whatever happened to people helping people. Everyone charges everyone, I hate it. Money just makes everything so much worse.
G'head and give up money! Give it a shot!!
If you're a computer engineer, g'head and try to find a landlord and a grocery store in the same are that BOTH need "computer engineer" help!!
here's a book to read that highlights why money is a good thing:
http://mises.org/books/lessons_for_the_ … murphy.pdf
And this is from a guy saying money is a tool?
Tools are supposed to make things easier. All it does is restrict me and allows me to do nothing without it.
What does it make easier? Everyone fights over it and the rich people just want more. It is created daily by counterfeiters and only causes problems within my family and others. I've never seen a hammer do that. A tool. Don't ever laugh at me again, especially when you don't even grasp what I'm talking about. Of course there are good things about money. It pays for everything and it easy to use! I'm sure someone can make a list on why the holocaust was good. It doesn't mean it was, not because I wrote a book or webpage on it especially. Sorry.
On top of that I see numbskulls owning companies and other things who got it handed down to them. Making MILLIONS, while the superintendents, and workers get next to nothing. Working 10 times as hard as the CEO ever will.
I have been involved in 2 of the 3 scenarios. And I have no doubt I will belong to the third.
It's not only Krugman.
Some analyst was on O'Donnell's show last night, said the same thing;
If you're wealthy, you will have no problem.
If you are struggling, forget it.Just do without.
And, they want to take upper tax rates down even further, to 25%.
NO mention of tax loop-holes,out-sourcing, tax breaks FOR outsourcing, rich people manipulating the system,to pay a lower tax rate than poor and middle incomes, removing the cap on FICA....
Their ONLY solution is to cut from people who can least afford it.
Subsidized Corporate and Wealthy Welfare goes on as strong as ever!
Privatizing Medicare- Yes, it could work. I'll leave it there for now. Too many things are already screwed up in this country.
Do the math.
The Ryan Plan will abolish Medicare, replacing it with a voucher system through private medical insurance. The savings over 100 years (they say) - 5 Trillion. WTF does that mean to me and you? Assume that you turn 65 when the Ryan Plan becomes law. Over the next 10 years, you- individually - will have to spend $100,000 LESS than you wild have spent under Medicare.
Will these savings come from the efficiency of the private sector? No. Medicare is 3 to 4 times more efficient than private insurance. Compare 4% overhead to almost 20% for private insurance. Medicare doesn't advertise or have profits, nor do they employ entire departments to deny claims. So Medicare is more efficient.
Will the doctors and hospitals accept less under a privatized plan? Not likely. Providers are screaming abot the current Medicare rates. The 100K comes out of YOUR hide. Either you pay it personally, out of pocket, or in an additional $800 per month in insurance premiums.
For those who wonder about my numbers. My Google searches said there are 40 million seniors on Medicare. But the number is growing as baby boomers age. So I bumped the number up by 20%. The Ryan Plan promises 6 Trillion in savings - less than a trillion in Medicaid cuts. Divide 5 trillion by 50 million and you have how much each American on average will have his medical benefits reduced.
I would hardly call medicare "efficent" after all isn't Obamacare funding dependent on 500 billion in waste fraud and abuse from the program?
I don't know where you het your "overhead" numbers from but 4% for medicare is highly doubtful you'd have to prove that to me.
You ask if the doctors will accept less from private insurers and you claim they wont okay so why would they accept less from medicare? Under Obamacare he asks doctors to do just that!
Medicare doesn't have a dept to deny claims? That is simply a LIE! Medicare has denied more claims than ANY of the big insurers!
Medicare and medicaid are unsustainable and make up the biggest portion of our budget and is growing. Ryan's plan courageously address the problem at great political risk. He is proposing a solution to the problem that will be good for the country.and putting his political career on the line to do so while the liberal socialist do nothing democrats sit back taking shots at the republicans in an effort to advance their political careers.
Who do you trust in this fight? No question its Ryan and the republicans!
"...Private insurers consistently spend more on overhead and administration than Medicare. To anyone who shares the broad prejudice against government, the difference will be startling, although these numbers are very well known to health experts. The average overhead cost of Medicare is roughly 2 or 3 percent, far below the administrative costs of private insurers, which range between 27 and 40 percent."
I wonder how they calculate "overhead". After all government doesn't concern itself with profit so I can argue it's 100% overhead.
Sorry but I don't buy their numbers.
You're right about your percentages - they closely mirror property and casualty insurance overhead.
Professor Love, you might want to drop a "zero" off of your $500 billion...
Krugman's an idiot.
http://mises.org/daily/5086/Caught-Krug … -Arguments
http://mises.org/daily/4993/My-Reply-to … cle-Theory
The guy "mysteriously" won a Nobel Prize just before he began publishing a textbook series that overstates how important government and central banks are.
This is probably the same reason why Obama got a Nobel Prize for... nothing (but he sure is ballooning spending!!!!). And why Al Gore got a Nobel Prize for making a movie filled with lies and nonsense that encourage government spending!!
Money is nothing but a method of control. Period.
Quite an intricate system, but as the old Cree prophecy goes:
You can't eat money!!!
It's time is coming to an end, I think.
Natural non-fiat money is NOT a form of control. Money just makes life easier, it's a tool.
For example: If you want to eat, sleep, use electricity, and have running water... but you're a Japanese Translator......
... good luck! Try to find a grocery store, a landlord, a power company, and a water utility company that ALL need help with Japanese.
Ain't gonna happen.
Instead we all trade our services for one commodity that people all accept as a means of trade.
The crap that the government produces, however, is mostly crap. It is only money because the government will throw you in jail for not using it.
GOP/Ryan--Privatize! Privatize! Privatize! Medicare, Medicaid, Social Security, prisons, toll roads, bridges, public schools, etc. Socialize the costs, privatize the profits.
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