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New Analysis Discovers That Health Spending Would Go Up Under ‘Medicare For All,’ $7 Trillion Over Ten Years

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A new analysis of the “Medicare for all” idea that’s being backed by socialist Democrats like Sens. Bernie Sanders and Elizabeth Warren would actually cause health spending to skyrocket over $7 trillion in ten years time.

The analysis comes from the Urban Institute, destroys the argument many on the left are using to justify the adoption of such a system that says this idea would decrease spending by having a single public plan.

This report comes at a time when Warren has faced a lot of scrutiny for not articulating how this kind of plan would be funded.

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Here’s more via The Washington Examiner:

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The analysis, coupled with an extensive healthcare reform study authored with the Commonwealth Fund, finds that while “Medicare for all” would leave no one uninsured, over a decade it would increase government spending by $34 trillion while overall healthcare spending would climb to $59 trillion.

That total is $7 trillion more than the U.S. is projected to spend over 10 years under current law, though under “Medicare for all” the federal government would be covering a much larger share of the costs.

The study finds “Medicare for all” may cost the federal government as little as $32 trillion if employers were to increase wages as a result of not having to pay for employee coverage, which would bring in more income tax revenue. But employers may not make that change, and if the final law were to pay doctors and hospitals more than Medicare rates then the proposal would be even more expensive.

“It is a big lift to get this kind of money, for sure,” Dr. David Blumenthal, president of the Commonwealth Fund, said in a phone call with reporters.

Researchers have concluded that the cost of providing more healthcare to more individuals is going to be much higher than the savings the system would supposedly accrue by reducing the amount medical providers get reimbursed through the slashing of administrative costs.

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Mnuchin To Request More Funds From Congress If Small Businesses Use Up $350B In Forgivable Loans

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Treasure Secretary Steven Mnuchin stated on Wednesday that should small businesses use up all of the $350 billion in loans to be administered by the Small Business Association to help keep them afloat during the social distancing measures being taken to contain the coronavirus. Here’s more on this from Washington Examiner: “One of the things I’ve heard is this small business program is going to be so popular that we’re going to run out of the $350 billion. If that’s the case, I can assure you that will be at the top of the list for me to go back to Congress on,” he told CNBC. The relief bill provides $350 billion to small businesses and other entities with zero-fee loans of up to $10 million to help cover payroll. These loans are available to businesses with 500 employees or less. The loans are forgivable to the extent that they are used to maintain payroll and pay other overhead. The loans are expected to be disbursed on a first-come-first-serve basis. Outside economists have said that the $350 billion allocation is much less than will be needed by small businesses looking to retain their workers. Earlier this week, Mnuchin stated that the loans included in the coronavirus relief package past last week would be available this Friday. Mnuchin spoke with Fox Business saying, “I’ve said these loans will be available starting on Friday, which will be at lightning speed. We hope later today that we’ll be releasing the documents and the instructions.” The coronavirus is continuing to wreak havoc on the United States as the death toll from the virus hits 4,000, which takes our numbers higher than those of China where the illness originated from.

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Devin Nunes Says School Closures Over Coronavirus Are ‘Way Overkill’

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When it comes to discussions about safety measures taken to manage the spread of the coronavirus, there seems to be two camps. One camp doesn’t think this virus is all that big of a deal and we ought to just get back to living life as normal with no concern for the seriousness of the matter. The other camp freaks out and thinks everything under the sun must be banned and shutdown for the next few years — or so it seems — until the virus goes away. Both are extremes, and funny enough, both are extremely stupid. It seems that Rep. Devin Nunes, a Republican, falls into the first camp. Nunes recently came out and said that school closures over the virus are “way overkill.” Keep in mind, the virus has now killed 4,000 Americans, which is 700 more than the Chinese total of fatalities (if they are actually reporting their numbers accurately). Here’s more from The Washington Examiner: As they discussed former Food and Drug Administration Commissioner Scott Gottlieb’s public health plan for how to combat the virus, Ingraham claimed it would mean people “can’t go back to a normal life” for 12 months. “Yeah, that’s not going to work. … The schools were just canceled out here in California, which is way overkill,” Nunes responded. “It’s possible kids could’ve went back to school in two weeks to four weeks, but they just canceled the rest of the schools. So, look: I’m optimistic here.” “If we don’t start to get people back to work in this country over the next week to two weeks, I don’t believe we can wait until, you know, the end of April. I just don’t know of any economy that’s ever survived where you unplug the entire economy and expect things to go…

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