Thursday, September 3, 2009

Health Care Basics: Spending as a Share of GDP

I stand amazed at the number of people who rattle on about health care as though unaware of the fundamental fact presented graphically above: that currently, right now, today -- before any of the reform proposals have been written down, let alone been voted on, let alone passed into law -- the USA spends far more on health care than any other nation on the planet, both in terms of the nominal dollar amount and in terms of the more meaningful metric shown above, share of gross domestic product.

Question: Where are we going to get the money for these ambitious health care reforms?

Answer: We are already spending more than enough. Dammit.

Over 15% of every dollar spent as part of the US domestic economy currently goes toward health care -- one dollar in every seven or thereabouts.

That terrifying socialistic system they have in Canada leaves not one single Canadian uninsured and yet vacuums up merely one of every ten dollars spent as part of Canada's GDP.

The number for France is about 11%. For Britain, where the government runs the entire system, soup to nuts, the number is about 9%.

Make up a different excuse if you must. The notion that "we can't afford" universal health care in the USA is ridiculous and false.

1 comment:

Anonymous said...

I had a guy paint my house a year or two back and he and I discussed health care. I pointed out that we are paying 4k plus per person in the free market system so someone is paying for it - wouldn't you rather pay 3k in taxes or 4k in fees, premiums, deductibles, etc?

I didn't think that people with Reagan bumper stickers could be reached but I think I actually made him think for a moment.