China to rescue US from Obama's "healthcare" plan?
Posted: Tue Nov 17, 2009 10:45 pm
China questions costs of U.S. healthcare reform
China holds a lot of our national debt. It's concerned that Obama's reckless "healthcare" plan will reduce our ability to merely service the interest on that debt. That means China has a great deal of power over us even to the tune of influencing our budget.
Anyone with the least bit of economics knowledge could've safely predicted an increase over the claims that the plan won't add to the debt and should reduce our healthcare expenditures as a percentage of GDP.
China holds a lot of our national debt. It's concerned that Obama's reckless "healthcare" plan will reduce our ability to merely service the interest on that debt. That means China has a great deal of power over us even to the tune of influencing our budget.
For instance, a new study from the U.S. government’s Centers for Medicare and Medicaid Services finds that the healthcare reform bill recently passed in the House of Representatives would increase healthcare spending to 21.3 percent of GDP by 2019 compared with 20.8 percent under current law. That’s bending the curve the wrong way. The study also questions the “long-term viability” of the $500 billion in Medicare cuts meant to help pay for expanded insurance coverage.
Anyone with the least bit of economics knowledge could've safely predicted an increase over the claims that the plan won't add to the debt and should reduce our healthcare expenditures as a percentage of GDP.