Who Killed The Hope ?

[bigrebnc1775]

That's easy...The Republican controlled House of Representatives....fueled by the mass marketing campaign of the right.....AM radio, FoxNews, Heritage Foundation, FreedomWorks, etc....

Yep the republican had to bring some sanity to the government, it was spending like a drunken sailor with someone else's money.

 

[percysunshine]

"Who Killed The Hope ? "

Colonel Mustard, in the Library, with the Chair.

 

[Bfgrn]

I recall thinking about how Obama would pull back and work on the economy before pushing for Obamacare.

Anyone would be smart enough to realize we needed leadership in that area.

Ooops.

Boy, were we wrong.

"Eighty percent of Republicans are just Democrats that don't know what's going on"
Robert F. Kennedy Jr.

The Cost of Doing Nothing

Why the Cost of Failing to Fix Our Health System Is Greater than the Cost of Reform

2008

The U.S. health care system is in crisis. Health care costs too much; we often get too little in exchange for our health care dollar; and tens of millions of Americans are uninsured.

Our economy loses hundreds of billions of dollars every year because of the diminished health and shorter lifespan of the uninsured. Rising health care costs undermine the ability of U.S. firms to compete internationally, threaten the stability of American jobs, and place increasing strain on local, state, and federal budgets. As health care costs continue to rise faster than wages, health insurance becomes more and more unaffordable for more and more American families every day.

Yet, the recent financial services meltdown has led some people to suggest that we cannot afford health reform and that fixing our broken health care system will have to wait once again. But waiting comes with a price. The crisis worsens every day that we do not act. Premiums will continue to rise; Americans will continue to pay more for less-generous health coverage; and fewer employers will offer health insurance to their workers.

We must reform our struggling health system not in spite of our economic crisis, but rather because of the impact health care has on the American economy. The economic and social impact of inaction is high and it will only rise over time.

Economic Cost

The economic cost of failing to fix our broken health care system is greater than the upfront expense of comprehensive health reform. In 2006, our economy lost as much as $200 billion because of the poor health and shorter lifespan of the uninsured. This is by most estimates as much as, if not greater than, the public costs of ensuring all Americans have quality, affordable, health coverage. The economies in California, Texas, and Florida suffer most from productivity loses stemming from the uninsured. Yet, Delaware’s economy loses more per uninsured person -- over $6,800 per uninsured resident.

Affordability

As health care costs continue to grow faster than wages, health insurance will become more and more unaffordable for more and more American families every day. The financial burdens associated with health care and health insurance will only get worse over time without action.The cost of the average employer-sponsored health insurance plan (ESI) for a family will reach $24,000 in 2016. This represents an 84 percent increase over 2008 premium levels. Under this scenario, we estimate that at least half of American households will need to spend more than 45 percent of their income to buy health insurance.


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Healthcare costs destroyed the Bush economy

by David Frum: A former economic speechwriter for President George W. Bush

Posted: September 15, 2009, 4:30 PM by NP Editor

Ron Brownstein ably sums up the Census Bureau’s final report on the Bush economy.

Bottom line: not good.

On every major measurement, the Census Bureau report shows that the country lost ground during Bush’s two terms. While Bush was in office, the median household income declined, poverty increased, childhood poverty increased even more, and the number of Americans without health insurance spiked.

What went wrong?

In a word: healthcare.

Over the years from 2000 to 2007, the price that employers paid for labor rose by an average of 25% per hour. But the wages received by workers were worth less in 2007 than seven years before. All that extra money paid by employers disappeared into the healthcare system: between 2000 and 2007, the cost of the average insurance policy for a family of four doubled.

Exploding health costs vacuumed up worker incomes. Frustrated workers began telling pollsters the country was on the “wrong track” as early as 2004 – the year that George W. Bush won re-election by the narrowest margin of any re-elected president in U.S. history.

Slowing the growth of health costs is essential to raising wages – and by the way restoring Americans’ faith in the fairness of a free-market economy.

Explaining the impact of health costs on wages is essential to protecting the economic reputation of the last Republican administration and Congress.

If Republicans stick to the line that the US healthcare system works well as is – that it has no important problems that cannot be solved by tort reform – then George W. Bush and the Congresses of 2001-2007 will join Jimmy Carter and Herbert Hoover in the American memory’s hall of economic failures. Recovery from that stigma will demand more than a tea party.

Read more: David Frum: Healthcare costs destroyed the Bush economy - Full Comment