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…”there won’t be a default for the simple reason that the federal government collects far more money than needed to pay all bondholders without any delay.
…the Treasury will be collecting more than 10 times as much revenue as needed to fulfill obligations to the folks who have lent money to Uncle Sam.
The government sets the price of staples such as rice, pasta, and flour, resulting in chronic shortages. Former President Hugo Chavez nationalized industries, confiscated property, and kicked out foreign companies. The government is trying to print its way out of the crisis, resulting in a 700 percent annual inflation rate. After a sham election, President Nicolas Maduro, the handpicked successor of Hugo Chavez, is rounding up his opponents and putting them in jail.
The reality that we are even having to talk about mandating transparency should tell us the problem is more fundamental than what is being portrayed. We should be asking WHY is it so hard to know a price ahead of services. Once we understand the answer to that question, then the solutions become obvious.
Lack of price transparency is one of the biggest problems plaguing American patients and well-intentioned state legislators are now taking a stab legislative fixes.
But is a government mandate the right approach? Dr. Keith Smith, for one, warns that it isn’t. Here’s a recent example of just what can go wrong.
In one state, Ohio, the legislature passed a law now known as Ohio Revised Statute 5162.80, which has misdiagnosed the disease and has prescribed an ineffective and even potentially harmful cure, particularly for patients tied to an “insurance” plan.
On it’s face the bill seems straightforward: doctors and hospitals must give patients good faith estimates for charges and payments. Who could be opposed to that?
The devil is in the details, particularly in this section of the law:
A provider of medical services shall provide in writing before care is rendered: “The amount the health plan issuer intends…
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So, does U.S. really want to copy European style Health Care Systems if they struggle with the same cost overruns as we do? Maybe there is a third rail, a better system than any one single system in existence now. Let’s find it.
24/9/2015 – Healthcare costs are rising so fast in advanced economies that they will become unaffordable by mid-century without reforms, according to a new OECD report.
There’s enough information out there to debate the ACA’s negatives and it’s few positives . But let’s not trump up the case with bogus statistics. This article, all though blunt, helps us have an honest discussion about the measurable effects of this law .