mises.org / Ryan McMaken / May 4, 2017
The US House of Representatives voted to day to “repeal and replace” Obamacare. Unfortunately, those who use the phrase “repeal and replace” are greatly exaggerating the extent to which the Affordable Care Act is actually repealed.
While perhaps a tiny step in the right direction, the new legislation signals no departure whatsoever from the long-established trend of expanding the role of government programs in subsidizing the regulating the health care industry.
Perhaps worst of all, since this is being called a “repeal,” many may be prompted to think that the US health care system is a “free market” system, or that government spending has only a very small role in the industry.
This couldn’t be further from the truth.
In fact, the US is fourth in the world in terms of per capita government spending on health care, behind only Norway, Luxembourg, and the Netherlands. That’s government spending, not overall spending:
In fact, those numbers from the World Health Organization (WHO) are from 2014, and with the expansion in Medicaid spending under Obamacare, it’s entirely plausible that the US has moved into third place in the past two years.
Read more ... source: The Bitcoin Channel
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