Bombur
VIP Member
- Jan 9, 2014
- 1,812
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So Johnson's spending and Nixon's growth of gov't via alphabet agencies is irrelevant?
You're clearly out of your depth here, presenting a one dimensional view of the economy with the theme: Republicans have screwed us.
Neither are as significant with regards to the problems the US is facing as the things I mentioned. I was not blaming Republicans or Democrats.
Medicare is obviously very important but in the context of understanding large scale economic trends it fits into the topic of US health care more so than US government. How the US treats health care in general is of significance as it relates to how US labor competes in a world of global trade. There are a lot of issues there but obviously I was placing plenty of emphasis on the importance of that market.
The creation of a large entrenched bureaucracy that demands constant feeding and is hard to cut is directly responsible for the growth of the federal budget. If you think that isn't significant then I can't help that.
All transfer payment programs are important. Medicare is one of them. But regulation is also important in employment in the US vs elsewhere.
The US still has a healthcare system that is less universal than other industrialized nations. The fact that it is paid for through government is not nearly as important as the other problems with the overall system. Pointing to the size of Medicare totally misses the economic relevance of US healthcare policy on the underlying economic trends that are happening.
Regulation is important as it relates to the impact it has on trade but I consider this a trade issue as much as a regulatory issue. I would consider the various problems in the financial markets to be examples of regulatory problems but I doubt you brought them up to emphasize the need for more regulations.
Nations struggling with having too much or not enough regulations is just part of modern economics but it is not that significant.