by Ken Alderman, March 2017
One thing we can say for sure is that the political drama in Washington is definitely not boring. This month the long awaited “Repeal and Replace” of the Affordable Care Act (ACA) made its first appearance in the form of proposed legislation. The legislation stalled amid no Democratic support and a lack of support from the most conservative element of the Republican party. Many experts argue that the ACA is failing and something must be done and virtually everyone agrees the goal should be affordable quality health care for all.
While not an expert on the subject, it is clear premiums are up significantly in several states and insurers are leaving markets. It’s one thing to have coverage, it’s another to get quality care (just ask a veteran) and it’s still another to be able to afford the premiums, deductibles and co-pays to take advantage of the insurance coverage.
Unfortunately, our political process encourages politicians of all stripes to make promises without fully funding the costs of those promises. Since our nation lacks a balanced budget requirement, politicians can promise a new benefit, not raise taxes to pay for it and defer implementation–and the resulting economic pain–until after their next election.
Typically our politicians are very wide of the mark when it comes to fully funding a government program or understanding the effects of legislation affecting major portions of our economy. That’s how we have arrived at a national debt of nearly $20 trillion dollars with little hope that it can ever be seriously reduced. If politicians had to fully fund their promised programs and benefits, the programs and benefits would never get passed and re-election would become more problematic. But, once passed into law, how does any politician of any party take away a benefit from a voter? The answer is, they can’t and they won’t. As voters, we share the blame for allowing poor management of our country’s balance sheet.
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