An arm and a leg: the true cost of health reform
by Blake Seitz In the words of famous free-market economist Milton Friedman, “there’s no such thing as a free meal.” It’s time to apply this common-sense logic to health care reform. The Obama administration claims the final health care package will extend coverage to 32 million formally-uninsured Americans. They also claim the bill will reduce the federal deficit by a significant amount. If we are to take their word for it, they have authored the ultimate health care panacea—a system that greatly expands coverage and remains cost-effective. I take exception to this second claim. At face value, it seems substantiated: in March, the Congressional Budget Office (CBO) scored the bill as reducing the deficit by $143…
Democrats raise the roof
by Blake Seitz It was recently reported by Politico that congressional Democrats hope to raise the federal debt ceiling by $1.8 trillion dollars before the new year. As the majority party, they will likely get their wish. Their reasoning behind this move is both practical and political. Practical: As 2009 winds to a close, the U.S. government is staring at a deficit (the amount of money they spent on the year and could not pay) of $1.4 trillion dollars, the largest amount–when adjusted–since 1945 during the height of World War II. Political: This move had to happen at some point. Democrats are moving to do it now because the alternative is to do it in 2010, an election…