60 Minutes Piece with US Comptroller David Walker - Our Path to Bankruptcy

Discussion in 'Economy' started by Paulie, Aug 3, 2008.

  1. Paulie
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    Paulie Platinum Member

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    [youtube]OS2fI2p9iVs[/youtube]

    8 lousy minutes of your time folks. Worth the watch.

    Jreeves, I think you will specifically like this piece.
     
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    Last edited: Aug 3, 2008
  2. Skull Pilot
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    Skull Pilot Platinum Member

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    don't be surprised if you don't see much response to this. people just don't want to know.
     
  3. indago
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    indago VIP Member

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    They talked about bankruptcy back in the 30's too, but all we got was MORE GOVERNMENT
     
  4. jreeves
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    jreeves Senior Member

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    Exactly the point there is a tipping point and we are quickly approaching that tipping point. The 30's didn't have to provide healthcare and retirement for a babyboom generation, right?
     
  5. editec
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    editec Mr. Forgot-it-All

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    "The medicare problem, is 5 times greater than social security."

    "Medical costs are rising twice as fast as inflation."

    Are you all getting the picture?

    Social security is NOT the problem. American workers more than funded for their retirement (social security) but not for Medicade. Nobody foresaw (ecept for some people who studed the problem since the 1970's of course, and nobody paid them much heed, believe me)

    In the last three deades the percentage of GDP spend on health care has gone from 7% GDP to 15% GDP.

    ARe you getting the extent of the problem, yet? (and the root cause of it, too?)

    Some of you folks, mostly those of you who have sweet billets complete with health insurance, dismiss those of us who suggest that SOMETHING must be done to hold down health care INFLATION.

    "America has the best helath care system in the world" you claim, and price controls are SOCIALISM. (you are right, controlling prices would take something socialistic, I agree)


    We have the most coddled (over paid) medical establishment on earth and they are collectively bankrupting this nation because they can, folks.

    And that is why I still day that single payer universal health care feeding into private market HC providers won't work...if all we do is provide HC coverage to every American the % of GDP going to health care will double in ten years to 30% of GDP (maybe more)

    Let's remember that capitalism operates under the system: "Whatever the market will bear" .

    So if the government picks up all HC costs and does NOT contain pricing :More fiat dollars chasing the same amount of HC services leads inevitably to RISING PRICES, but NOT to more or better services.

    We have two possible approaches to dealing with this:

    1. Abandon all medicade/medicare promises (everyone is on their own); or

    2. Total socialize the health care industry.

    Neither approach is likely to bring us to a happy place.

    Both approaches are disasterous in the short, long and longer terms, so pick which kind of disaster you would like, cuase those are our choices.

    One of those two solutions IS in our future's, folks.

    Either, HC will be something only the very affluent can afford, OR HC will be socialized, and the medical establishment will be much less affluent than it is now.

    Oh incidently, just in case some of you have not noticed??

    THE COST OF HIGHER EDUCATIONAL IS ACTUALLY RISING EVEN MORE QUICKLY THAN HEALTH CARE.

    So, while we can expect a crises in health care, expect a crises in educating our next generation's best and brightest, too.

    We cannot expect our children to continue borrowing to fund their own education, folks. Their coming out of this with enormous debts, and given the diminishing wages most Americans are dealing with, they're coming out of college with debts they can never repay.

    That funding of higher system is already over stressed and under funded, and that is only going to get worse, until we radically change our system for paying for that, too.
     
    Last edited: Aug 4, 2008
  6. midcan5
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    midcan5 liberal / progressive

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    If you listen carefully you realize this is easily solvable given the will to do so. Here is my serious cynical answer. For SS, raise payment so that it goes to 200K, that problem is solved. For medical raise taxes on the rich as Clinton did, extend luxury taxes, and increase cigarette taxes. For those businesses that contribute so much to cost make sure they operate as safely as possible, long term that is a savings. Coal mining would be one.

    And the big piece of the puzzle is medical, it is harder as doctors don't compete, (nor do lawyers and other professionals), it is only the working poor who are expected to compete in a global market. Medical is a rip off, the prices they charge for services amount to robbery. If anyone has been in the hospital they will know. If your insurance can be gouged it will be. If it can't be they will take what they can and throw you out. How to fix? Allow more doctors to immigrate, this would force the AMA to reign in costs. Lessen licensing restrictions so the corner pharmacist, nurse practitioners or physicians assistants could help in the minor cases. My mother used to go to a pharmacist who gave her prescription medicine as he realized our family could not afford the doctor. CVS started something like this. Buy drugs overseas, again why do they not compete. (I know the BS reason.) Allow people to die, instead of spending millions on keeping the near dead alive let them go if they choose to. That next world, most believe in, should be nicer and new body how great!

    If European countries can do it, why can't we? I won't answer now.


    The Federal Pie Chart
    World Military Spending - Global Issues
    CEPR - America Since 1980: A Right Turn Leading to a Dead End
    >
     
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  7. Neubarth
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    Neubarth At the Ballpark July 30th

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    Here is another example of how Pauli has been trying to deceive the very elect. Total nonsense, Pauli.
     
  8. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    1. No country has EVER taxed itself into prosperity.
    2. Europe and the Euro is failing.
    3. Defense is the only government program that show a return on investment: Dead Terrorists.

    FAIL.
     

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