Sunday, August 02, 2009

The only reason private health insurance works---SOMETIMES

2008 Nobel Laureate in Economics Paul Krugman sums up the U.S. debate over health care very nicely in his current New York Time column, "Health Care Realities":

"Right-wing opponents of reform would have you believe that President Obama is a wild-eyed socialist, attacking the free market. But unregulated markets don’t work for health care — never have, never will. To the extent we have a working health care system at all right now it’s only because the government covers the elderly, while a combination of regulation and tax subsidies makes it possible for many, but not all, nonelderly Americans to get decent private coverage.

Now Mr. Obama basically proposes using additional regulation and subsidies to make decent insurance available to all of us. That’s not radical; it’s as American as, well, Medicare."

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