To ensure that the federal government’s borrowing capacity does not become exhausted within the next 25 to 50 years, the growth in federal health care spending must be reduced relative to baseline spending. I provide two scenarios that would provide additional borrowing capacity. These would require federal spending on Medicare, Medicaid, CHIP, and the insurance subsidies to be reduced by at least 7.5 percent of baseline spending, or 0.5 percent of the economy, over the 2025 to 2034 budget window.
Beginning structural reforms sooner rather than later will allow a path of continuous growth in the budget for health programs while avoiding much larger, drastic cuts in the future as well as problematic future tax increases, inflation, and higher interest rates.
Category: Policy & Legislation
Friday Links
- What Jimmy Carter got right: deregulation that saved consumers hundreds of billions of dollars.
- More than $200 Million in New York City-Purchased COVID Gear Auctioned Off For Just $500,000. Thousands of ventilators de Blasio commissioned for $12 million sell as scrap metal for less than $25K.
- The White House favors an “AI Bill of Rights.” Rights for the robot? No. Rights for people who want to opt out of interacting with the robot.
- Study: Vaccine mandates did nothing to stop Covid spread.
- Health Affairs: Abortions are “health care.”
Can Congress Solve the Health Care Workforce Shortage?
Senator Bernie Sanders, the Democratic Socialist from Vermont, is now chairman of the Senate Health, Education, Labor and Pensions (HELP) Committee. The HELP committee has more power than any other health committee in Congress. In a hearing that took place on Friday, February 17 the committee discussed the growing shortage of skilled workers in health care. Kaiser Health News reported on the hearing.
Tuesday Links
- Covid infection creates immunity at least equal to two doses of mRNA vaccine, according to a meta-analysis of 65 studies from 19 countries.
- Why did it take two decades for a generic competitor for the nation’s leading (and costly) arthritis drug to become avaible to consumers?
- Benefit of placebos: “taking a sugar pill can be beneficial even when you know it’s a sugar pill.” (WSJ)
- Why can’t we have one-stop-shopping for safety net benefits for the poor, instead of multiple siloed benefits?
- Study: 76% of homeless people in high-income countries suffer from a mental disorder, with substance use disorders and schizophrenia being the most common. HT: Arnold Kling
- In Utah, it is legal to forcibly sterilize a person with a disability.