Thursday, April 1, 2010

Krugman: 'Death Panels' Will Save Money

This is as close as you are ever going to get to hearing someone in favor of ObamaCare admit that there will be panels deciding what treatments you will be able to receive. Notice, Krugman doesn't knock down the idea that this will result in death panels, rather he couches it in terms of treatments and medications that "don't work."

According to him, there are going to be huge savings because there is going to be huge savings because of the elimination of medical treatments that "don't work." Scary.

BTW, I do agree with him that many are, in one area, overestimating the cost of ObamaCare. Between death panels and the general decline in life expectancy that is going to occur, the actuarial costs based on life expectancy will be too high. That said, the structure overall is designed to explode overall healthcare costs. When you have demanders of services who don't have to pay the direct cost, they will demand and demand. And when you have providers who are politically connected they will provide at a nice markup. Think Lloyd Blankfein in the healthcare industry.

(Thanks to Mike for the video clip)

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