The Koch-backed Mercatus Institute was humiliated last month when it published a scare story claiming that American couldn't afford the $32.6 trillion cost of universal health care for the next decade, a number that seems huge until you realize that the cost of privatized US health care over the same period will be $2 trillion higher.
Understanding the difference requires that you abandon the simplistic notion that a sovereign nation with its own currency is like a household with a credit-card; in Modern Monetary Theory, we think of money and debt in very different ways.
JD Alt's essay, How to Calculate the Costs of #MedicareForAll Properly, delves into good detail on how MMT would cost out Medicare for All, but really, here's everything you need to know:
The actual macro-economic bookkeeping for Medicare-for-all, then, is this:
1. Uncle Sam spends $3.3 trillion to pay for America’s health services;
2. U.S. families and businesses save $3.3 trillion by not having to spend it for their health-care;
3. The health-care industry earns $3.3 trillion by providing services;
4. The U.S. financial sector owns $3.3 trillion in treasury bond “savings accounts.”
How to Calculate the Costs of #MedicareForAll Properly [JD Alt/Naked Capitalism]
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Medtronic is the most notorious maker of insecure medical implants in America, with a long history of inserting computers into people's bodies with insecure wireless interfaces, toolchains and update paths, and nothing has changed.
Here are some "ordinary citizens" who have recently been featured in the press as people who are completely OK with the state of American healthcare and totally opposed to Medicare for All or any other project to reform America's worst-in-the-world health care system: "Mustafa Tameez, businessman, Texas" (Tameez is managing director at Texas-based Outreach Strategists, […]
If you’re into tech at all, you should definitely consider unleashing your inner tinkerer on a Raspberry Pi board. If you’re intimidated, don’t be. It’s a statistical probability that people half your age have created cooler things than you can imagine with the versatile kit. Not sure where to start? The Complete Raspberry Pi 3B+ […]
Are you super organized? You’re going to love the Genius Pack G4 and its seemingly limitless, well-placed compartments. Not that organized? You’re still going to love this piece of luggage because it’s so well thought out that it practically does the packing for you. We’ve all tried to stuff a piece of carry-on so full […]
Despite government legislation and improving caller ID technology, robocalls and scam artists are rampant on the phone lines – up to 35 billion a year in the US alone. They can be annoying at best and a financial threat at worst, but there’s a way to take security into your own hands. One good example […]