The Therapy Sessions
Thursday, April 01, 2004
Everyone in Washington: cover your ears!
For any doubters out there: This is the consensus from the actuaries:
Medicare is Dooooomed! DOOOOOOMED! And everyone knows it. Well, at least every actuary knows it. Also, we know the recent reform act made it worse. We also know it's politically inconvenient to cope with this issue, so it won't get coped with. It's all very discouraging.
Social Security is even more doomed, and everyone knows this, too. And even less will get done about it.
Americans are spending proportionally more on health care than any other country in large part (R-square of about 60%) because we're unusually rich. I.e., apparently, health care is a luxury good*.
Shocking, I know.
From Oddly Normal