The President is up for nationalizing healthcare. And he put it in writing. Obama Calls for Government-Owned Healthcare Company
In the letter, Obama called for a healthcare bill that includes a public option – the phrase used by the administration and congressional Democrats when discussing a government-run healthcare entity. Obama said a Washington option would give consumers more choice and keep the private sector “honest.”
It’s Medicare 2.0:
Obama’s federal plan would essentially operate like a massive version of Medicare, the government-run plan for seniors which cost 3.2 percent of the country’s Gross Domestic Product (GDP) in 2008 and which will become insolvent for the first time this year.
Medicare faces $34 trillion in unfunded liabilities – the cost of services seniors are eligible for in the future but for which the government does not have the money.
According to the 2009 annual report from the Medicare Trustees, the program will require a 134 percent increase in the payroll tax paid by every working American to remain solvent.
What would the plan be like in operation?
Essentially, the government will say how much insurance will cost for a particular type of person dependent upon whom that person is, how old they are, and how healthy they are.
…The public plan would also automatically incorporate all of the government’s reform initiatives, such as electronic health records and the controversial “comparative effectiveness” policies that some critics have described as a back-door form of rationing…
…The most significant component of a federal healthcare entity is that, according to the plan outlined by the Senate Finance Committee, it would not have to be solvent. This means that unlike every other private plan, the federal plan could operate at a loss and still remain in business…
Private insurance companies will be able to compete with that? Of course not. They’ll be crowded out of the market. And we’ll all get to stand in line for health care together.
Fifteen things you should know about the current draft of the Obamacare bill.
Hot Air has more on privacy and other issues with this bill.