Comments on: How Much Will Health Reform Really Cost?

By: Bruce

Bruce — Sun, 13 Sep 2009 15:58:09 +0000

Second response to Boscobobb: spending goes up in the out years because (1) that is when the program is fully phased in and (2) because there really is no cost control, so health care costs keep right on rising.

By: Boscobobb

Boscobobb — Fri, 11 Sep 2009 22:34:45 +0000

BTW: Spending goes up fast in the out years because…..demographics. Baby boomers.

By: Bruce

Bruce — Fri, 11 Sep 2009 22:00:16 +0000

Boscobobb: Hennessey’s numbers come from the CBO. That’s the nonpartisan arm of Congress that reports to the Democratic leadership.

How do you know the $350 billion is wasted? Medicare spends far less supervising its claims and it and Medicaid have between $50 billion and $100 billion a year in fraud, waste and abuse — far higher than in the private sector. Also, profit represents the cost of capital. Just because government doesn’t report this as a line item in it’s budget doesn’t mean the cost isn’t there. Capital used by govenment agencies has a social cost.

By: Boscobobb

Boscobobb — Fri, 11 Sep 2009 21:44:53 +0000

“The information is not being reported,” because Mr. Hennessey’s math is specious.

Why doesn’t Mr. Hennessey mention the $350 billion a year you and I pay to private insurance companies that buys NO health care, that’s just their profit, overhead and bureaucracy in excess of normal payment costs.

That’s $4 trillion over 10 years literally wasted – about $2,000 a year for each American with private insurance.

By: Stephen C.

Stephen C. — Fri, 11 Sep 2009 20:55:17 +0000

This is very important. The information is not being reported.

By: Ken

Ken — Fri, 11 Sep 2009 20:44:45 +0000

Very interesting post.