$1.5 TRILLION

[w¡n9Nµ7 §£@¥€r 123]

WASHINGTON (AP) - Guaranteeing health insurance for all Americans may cost about $1.5 trillion over the next decade, health experts say. That's more than double the $634 billion 'down payment' President Barack Obama set aside for health reform in his budget.

...

The U.S. spends $2.4 trillion a year on health care, more than any other advanced country. And some experts estimate that a third or more of that goes for tests and procedures that provide little or no benefit.

...

John Sheils, a senior vice president of the Lewin Group [a leading consulting and policy analysis firm], said about $1.5 trillion to $1.7 trillion would be a credible estimate for a plan that commits the nation to covering all its citizens.

...

"Honestly...we can't do it for the $634 billion the president put in the reserve fund," John Rother, public policy director for AARP told an insurance industry meeting in Washington last week.

"In all likelihood, it will be over $1 trillion," he added, citing his own estimate of $1.5 trillion.

Economist Len Nichols, who heads the health policy project at the New America Foundation, said he calculates that guaranteeing coverage will cost $125 billion to $150 billion a year, when fully phased in.

...

The overall cost matters because the expansion of health coverage is meant to be a permanent reform. That means future generations will have to bear the cost.

http://apnews.myway.com/article/20090317/D97023500.html

[I AM NOT THAT GUY 5,715]

Is it time to panic yet?

[chri'stina 190]

I want some paper!

[one...two...tree 2,762]

That cost is misleading because with that projected cost should be the total amount of money that will no longer be spent on private insurance - actual money saved by companies and individuals. The real numbers that matter is how much we spend on health care in this country per person compared to a country like Canada.

Edited March 18, 2009 by Mister Fancypants

[Peikko 1,575]

I don't know why anyone thinks the national debt will ever be repaid. It's not as if governments have consistently even made any attempt to try.

[mawilson 2,133]

I don't know why anyone thinks the national debt will ever be repaid. It's not as if governments have consistently even made any attempt to try.

Indeed. Japan's national debt is 170.4% of their GDP, yet they have foreign currency reserves exceeding 1 trillion dollars.

[I AM NOT THAT GUY 5,715]

I don't know why anyone thinks the national debt will ever be repaid. It's not as if governments have consistently even made any attempt to try.

Indeed. Japan's national debt is 170.4% of their GDP, yet they have foreign currency reserves exceeding 1 trillion dollars.

I would not be taking any consolence in the Japanese economic situation.

Japan's economy logged its worst performance in almost 35 years in the last quarter of 2008, contracting at an annualised pace of 12.1 percent. Many analysts expect the recession to be the worst in the post-war era.

http://www.google.com/hostednews/afp/artic...UV5uOUlkLqpfqHw

Edited March 18, 2009 by Mister_Bill

[mawilson 2,133]

I don't know why anyone thinks the national debt will ever be repaid. It's not as if governments have consistently even made any attempt to try.

Indeed. Japan's national debt is 170.4% of their GDP, yet they have foreign currency reserves exceeding 1 trillion dollars.

I would not be taking any consolence in the Japanese economic situation.

I'm not. But our national debt will exceed the GDP by the end of Obama's first term.

[I AM NOT THAT GUY 5,715]

I don't know why anyone thinks the national debt will ever be repaid. It's not as if governments have consistently even made any attempt to try.

Indeed. Japan's national debt is 170.4% of their GDP, yet they have foreign currency reserves exceeding 1 trillion dollars.

I would not be taking any consolence in the Japanese economic situation.

I'm not. But our national debt will exceed the GDP by the end of Obama's first term.

That's not good. The lion's share of national debt is for treasury obligations, like social security and medicare. That is where the rubber is skidding down the road very soon.

Obama is on TV now, back peddling as fast as he can, and wishing he never ran for President.

Edited March 18, 2009 by Mister_Bill

[Peikko 1,575]

I am not sure anyone would be enjoying the role of president at this time. At least Obama isn't trying to poke at windmills, a la McCain model.

[I AM NOT THAT GUY 5,715]

I am not sure anyone would be enjoying the role of president at this time. At least Obama isn't trying to poke at windmills, a la McCain model.

It was close, but the Pres made it on the chopper. I am impressed that he stood his ground like that, and now, he heads to Burbank, California, to film the Tonight Show with Jay Leno.

[Peikko 1,575]

He's going to be in the OC at a town hall meeting first. I am surprised FP didn't get tickets, it's right next door to him

Yeah, I heard about him doing Leno, first sitting president to do such a thing. I can't decide whether that is brave or merely foolish.

[I AM NOT THAT GUY 5,715]

He's going to be in the OC at a town hall meeting first. I am surprised FP didn't get tickets, it's right next door to him

Yeah, I heard about him doing Leno, first sitting president to do such a thing. I can't decide whether that is brave or merely foolish.

It may be interesting. Leno tends to the right on many issues, so I am sure he will get in a zinger. I wonder if I can stay awake that late!

[fozzie 41]

He's going to be in the OC at a town hall meeting first. I am surprised FP didn't get tickets, it's right next door to him

Yeah, I heard about him doing Leno, first sitting president to do such a thing. I can't decide whether that is brave or merely foolish.

Whats wrong with trying to reach the masses? Most people don't get more than sound bytes from a president, no questions just a prepared statement with prepared questions. More people watch Leno than a presidential press conference, or the news!

[I'm Gone 60]

That cost is misleading because with that projected cost should be the total amount of money that will no longer be spent on private insurance - actual money saved by companies and individuals. The real numbers that matter is how much we spend on health care in this country per person compared to a country like Canada.

The cost a every government program is lowballed to get it passed and it always winds up costing more once it starts.