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« Sometimes i think you *want* to fail | Main | "All Obama did was sign it" »

A good problem to have

Spammers recently brought this post on Medicare vs Private Insurance to my attention. Reading it again, (and at the risk of turning this into an all Yglesias-summary blog) i also want to add a point that Matthew Yglesias often makes, which is that rising healthcare costs are due in a large part to the fact that we've figured out how to help people live longer. We can extend life for cancer patients, etc., to a greater degree than we ever could before. But those procedures cost money. And so healthcare costs rise. It's true of both public and private insurance, but people with an anti-agenda focus on the government spending that comes out of Medicare costs (which are the primary cause of increased government spending). But these same people denounce "death panels" and no one is advocating for halting treatment on older sick people. So if we were being honest with ourselves we'd celebrate the fact that people are living longer and adjust to the new reality accordingly.

To recap:

The primary reason for long term Federal deficits is rising Medicare costs.
Rising Medicare costs are due to the fact that we have more expensive procedures to offer older sick people.
Medicare does a better job than private insurance at bending the costs curve.

Therefore, Obama is ruining the economy.

By fnord12 | April 13, 2012, 7:21 AM | Liberal Outrage