There are plenty of health-related reasons to oppose ObamaCare: It will lead to rationing by government, could stifle innovation in medical treatments, put the force of government behind cookbook medicine, and so forth. But did you know that it could also be very painful to the economy? Arthur Laffer says that it could cost each man, woman, and child in the U.S. $4,354, reduce economic growth, and fuel inflation. What a combination of hope and change!
The report, which is available at LafferHealthcareReport.Org, offers up plenty of other dismal facts of how any health reform based on President Obama’s principles will affect the economy in the next 10 years, compared with what would otherwise be the case:
- Increased national health care spending of 8.9% (so much for cost savings!)
- An increase in medical care inflation of 5.2% (did anyone say that this was going to save money? You betcha.)
- A decrease in national economic growth by 4.9% (Is health care a drain on the economy? If government takes over, yes!)
And what would it take to make sure that more people are insured (STILL leaving 30 million without insurance)? Only $62,500 per person insured.
For more commentary throughout the week on the Laffer report, see www.statehousecall.org.
[First published at True North]