Things To Worry About

As John Taylor points out, our debt situation today is much scarier than it was after World War II. When the war ended, we stopped accruing war debt. As GDP grew, the ratio of debt to GDP shrank. I would describe our current debt not as war debt but as entitlement debt. Entitlement debt is not frozen. It is growing. It is growing faster than GDP. Very different.

Arnold Kling

Hmm. That’s cause to worry, but here’s something worse: the end of toilet paper as we know it.

Of course, the big worry for everyone is health care “reform”. The most obvious cause for worry is the huge costs and the huge tax increase (which our President insists isn’t really a tax increase). Less visible to the casual observer is the plan to reduce the quality of health care. The proposed bill creates a strong incentive for doctors to avoid expensive treatments or avoid patients with conditions that would be expensive to treat. There will also be a stronger incentive to avoid Medicare patients altogether or at least limit the number seen by a practice. This already happens today, but the need to do so will only grow stronger. This is so appallingly bad that it’s hard to believe it’s even being considered, much less proposed.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: