The Cost of Failure is Very, Very Expensive

The Wall Street Journal published an essay today examining what might happen if Democrats fail to enact health care reform.  It’s not a pretty picture.

Unlike 1994, the last time health care reform failed, no one wants the status quo.  But that’s exactly what will happen if President Obama and Democrats in Congress don’t get their act together.

Think of it as the health care death spiral: More people will go without coverage, fewer employers will provide it, and it will get more and more expensive.

How expensive?  Take Medicare and Medicaid for example. This year those two programs alone will cost $725 billion, which is 50% more than Congress provides for all domestic programs.  That figure is expected to rise to $950 billion by 2014.  According to Congressional Budget Office Director Peter Orszag, “the fiscal course we’re on is…unsustainable.”

For a complete copy of the article, please click here.  An Urban Institute report on this issue is also available online by clicking here.

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