Friday, October 30, 2009

The Economic Consequences of BaucusCare

John Goodman explains the economic havoc that the Baucus health care bill (or any variant) will wreak in his post, "The Baucus Bill Explained".

The consequences include:
1. Millions of jobs lost
2. A shift to independent contracting
3. Major industrial restructuring
4. Emergence of niche markets
5. Growth of the underground economy
6. Higher insurance premiums
7. Fewer insurance choices
8. Higher than anticipated taxpayer costs
9. New unfunded liabilities
10. Exacerbating the problems of cost, quality and access
His conclusion:
Not only will "reform" not solve any of the problems it is supposed to solve, it will almost certainly undermine the ability of entrepreneurs in the private sector to solve them.
(Read the full text of "The Baucus Bill Explained".)

This is an entirely predictable consequence of the government taking control over 1/6-th of the US economy.