U.S. Goverment Bailout of Financial System Deters Health Care Progress

In the United States the national debt has been raised to make room for a massive financial systems bail out. The problem with this way of thinking is that businesses continue to think government can save the day from financial problems of countries. This may encourage businesses to continue to operate with greed and lack of economic foresight. There needs to be a cap on the amount that executives can receive as pay. Executives are continuing to receive substantially more money than lower level individuals within the same company.

Another problem with increasing the national debt, to make way for a financial systems bail out, is that many do not agree with this. Some may argue that it is important for citizens to have access to health care. The United States continues to be the only wealthy, industrialized nation that does not have a universal health care system. A little over 45 million citizens are uninsured and do not have access is to health care. However, many of these individuals will receive the care at an emergency room in times of need. The person who is of paying the spell becomes taxpayers, hospitals and the government.

It is estimated that in 2007 the United States spent over two trillion dollars on health care. Increasing the national debt will not allow for the government to be able to finance a universal healthcare system. Health insurance costs are continuing to rise faster than inflation. The majority of the cases of bankruptcy filings also continues to be medical costs. In order for the United States to operate on a day to day basis, it must rely on foreigners purchasing treasury bill's. If the national debt continues to increase, there may come a time where foreigners will not pick up the tab and Americans will have to face the harsh reality. That reality would be really harsh, without access to health care and financial resources for millions of Americans.

With President George W. Bush soon moving out of office it's important to understand the candidates takes: Obama and McCain on the economic and health care issues. The candidates may have its tough time convincing middle-class Americans that they should be responsible for contributing to the failures of some of the largest investment banks in America. Therefore they may be inclined to distance themselves from the economic issue as it represents a tricky balance between companies that made poor decisions and middle class voters.

Both Obama and McCain have developed health care plans. Physicians for a national health program former president Dr. McCanne has recently helped elaborate on these plans. McCain's program would shift responsibility for health care from employers to individuals by providing tax incentives. Employees will receive a government subsidy for health insurance that includes $2,500 for individuals and $5,000 for a family. This will likely cause employers to be motivated to terminate their health insurance programs and turn the people working for them to the individual market. However, the average family premium is $12,000. McCain's proposal would increase the individual insurance market, where administrative costs are higher, driving up the costs of health insurance.

On the other hand, Obama plans to offer a public plan that offers guaranteed health care coverage to all. Obama's plan will have private plans competing with public plans; however this will likely never occur because private plans do not want high risk individuals with illness or disease. One of the largest traded health insurance companies recently said WellPoint, said "We will not sacrifice profitability for membership." This means they care more about profits than covering the unisured. Neither canditate's plan will do anything to change this industry. Obama's plan will suffer from increased costs and less efficiency than an alternative single-payer system.

So what is a single payer system? It guarantees comprehensive health care to everyone by replacing the private insurance industry with a tax-supported government agency. This agency picks up the tab for all medical bills and gives everyone the freedom to choose the hospitals and doctors they want to see. Now that sounds like the health care plan America needs. Sadly it does not seem that a Presidential candidate will institute this change, even though both Hillary Clinton and Barack Obama feel that a singler payer system will be the ultimate solution. It is up to Congress and advocacy groups to bring a single payer system to the U.S.

The problem is is that if Congress deals with legislature to fund financial systems bail outs and spend billions of dollars in this regard there will not be any money left over for health care. The leaders of the US should institute a policy that best reflects the benefits to it's citizens. The U.S. spends nearly $1 trillion just to bail out their financial systems. Does it not also seem fair to spend that money on their citizen's health care. Then why is the money being spent on the financial system? It is up to the leaders of this country to institute policies that will bring about change, that we really can believe in.

References
1. BarackObama.com Accessed September 20th, 2008.
2. Physicians for a National Health Program. An interview with PNHP Senior Health Policy Fellow Dr. Don McCanne on McCain and Obama's health care proposals. Accessed Septmer 20th, 2008.