Sunday, September 24, 2006

Health Care Costs Soar & Government Can't Pay Bills

For years now, people have wrung their hands about health care in America and nothing has been done. The reason for this is simple: the consumers are detached from the product so typical market constraints are removed that exist in a free-market system.

Troubling times for local governments abound because of long-term pension costs. And what will have to be deprived to feed the beast? Education, public safety and public works will all be cut back on. Notice that pension benefits won't be cut.

Health care is a mess. Insurance pays for diagnostic testing patients don't need and pays for treatments that have no evidence to support the benefits. Insurance won't pay for testing not considered to be "standard of care" and won't cover procedures that cost less and accomplish more.

The potential for intergenerational war to break out as entitled Baby Boomers get sick and decline (Yes, even they will die. I know, it's shocking.) is worrisome, to say the least.

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