Despite all the talk of “austerity,” little has been done to stem the tide of the United States’ ever growing debt. The little that has been cut is in area that needs it most: defense. The Budget Control Act’s sequestration hits defense disproportionately and essentially ignores entitlement spending, the leading driver of U.S. debt. President Obama has warned that he would “veto any effort to get rid of those automatic spending cuts.” This stance is irresponsible and unwise for several reasons. First, in an increasingly dangerous world with a rising … More
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Medicare at Risk: Visualizing the Need for Reform View more presentations from The Heritage Foundation Heritage’s new chart series, “Medicare at Risk: Visualizing the Need for Reform,” shows that, without the necessary structural reform, Medicare’s finances will have devastating consequences on the federal budget, not to mention taxpayers and seniors alike. Medicare’s Impact on the Budget. Medicare spending is rising faster than any other part of the federal budget, and it’s a major driver of runaway deficit spending in the not-so-distant future. Retiring baby boomers and rising health care costs … More
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By Michael F. Cannon
Here’s a poor, unsuccessful letter I sent to the editor of the Washington Post:
“GOP stalls on insurance marketplaces” [May 12] reports that “the conservative firm Leavitt Partners…is working with a …
How to Recognize a Government Contractor, or a Federal Takeover is a post from Cato @ Liberty – Cato Institute Blog
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By Michael F. Cannon
Here’s a poor, unsuccessful letter I sent to the editor of Politico:
An item in Politico’s health care newsletter Pulse [“Today: Christie Vetoes Exchange Or Else,” May 10] told readers that, …
Repeat after Me: There Is No Health Reform but ObamaCare is a post from Cato @ Liberty – Cato Institute Blog
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By Michael F. Cannon
Here’s a poor, unsuccessful letter I sent to the editor of the New York Times:
When Gov. Andrew Cuomo (D) created a new ObamaCare “exchange” by executive order, it was indeed …
By Edict of King Andrew, New York Employers Will Be Subject to ObamaCare’s Employer Mandate is a post from Cato @ Liberty – Cato Institute Blog
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By Michael F. Cannon
Here’s a poor, unsuccessful letter I sent to the editor of the Washington Post: “Health-care provision at center of Supreme Court debate was a Republican idea” [Mar. 27, A7] describes the health care law Mitt Romney signed while governor of Massachusetts as comprised of “free-market ideas.” Really? RomneyCare’s individual mandate, now mirrored in ObamaCare, uses [...]
You Do Know What Makes It a ‘Free’ Market, Right? is a post from Cato @ Liberty – Cato Institute Blog
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By Michael F. Cannon
Two articles in the Washington Post sparked these two poor, unsuccessful letters to the editor. First this: I’m no Republican, but “‘Innovation advisers’ chosen for ideas to improve health care, cut costs” [Jan. 21] gives short shrift to those who oppose the new health care law’s Center for Medicare and Medicaid Innovation when it reports, “Some [...]
If Thomas Edison Had to Submit His Innovations to Medicare, You Would Be Reading This by Candlelight is a post from Cato @ Liberty – Cato Institute Blog
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Consumer-directed health plans have become increasing popular because of their ability to save consumers money. Breaking research published by Health Affairs shows that if consumer-directed health plans increased as a share of employer-sponsored plans from 12.4 percent to 50 percent, it could save $57.1 billion annually in national health expenditures. The report states, “Savings of this magnitude would account for 7 percent of all health care spending for the population with employer-sponsored insurance and 4 percent for the nonelderly population as a whole.” The study uses two types of consumer-directed … More
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“Provide for common defense” is a core constitutional obligation of the federal government. Yet entitlement spending is putting unsustainable pressure on the defense budget. In 1965, Medicare, Medicaid, and Social Security constituted 2.5 percent of gross domestic product (GDP) while defense made up 7.4 percent. The Office of Management and Budget estimates that entitlement spending will reach 9.7 percent of GDP in 2012 while defense will shrink to 4.5 percent—even after the wars in Iraq and Afghanistan are included. (article continued below chart) The defense budget is further threatened from … More
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By Michael F. Cannon
Investment giant J.P. Morgan made a bad trade that cost its owners $2 billion. The responsible parties are losing their jobs. Yahoo’s CEO evidently misled people about his qualifications. As a result, he lost his job. If you want to know why these are market successes, consider: Medicare and Medicaid lose at least 35 times [...]
J.P. Morgan and Yahoo: Market Successes is a post from Cato @ Liberty – Cato Institute Blog
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