@Arjuna,
I don't think money will be saved by providing insurance to those who are currently uninsured. Overall, I believe the health care bill will add to the deficit. Because insuring the uninsured costs more in the long run than what would be saved by having sick people treated before they become sicker. You are adding more health care service than would otherwise be covered. It may even cost more money to detect sickness in its early stages. Of course, on humanitarian grounds your argument is more powerful. But the question remains whether or not we can afford to provide coverage to more and more people.
On the face of it, it costs more money to provide more people with more coverage. The newly insured will use this coverage not only when there exists early signs of sickness, but they will use their coverage on a regular basis such as yearly physicals, just as everyone else who is now covered do. So, I believe that the costs of providing insurance to those who are currently uninsured will overall costs more money. The financial argument should be seperated from the humanitarian argument, in my opinion.
As for the country being bankrupt, I believe that it is already, if not officially. The U.S. is the world's largest debtor nation with no future prospects of being capable of paying off its debt.
America consumes more goods than it produces. And there is no prospect that we will face an increase in our industrial productivity. The industrial sector is the only sector than could provide a means of paying back the debt, but the U.S. manufacturing sector has been gutted by free traders.
The only way out of our debt is to inflate it away, which would mean a dramatic decline in the value of the dollar. This, I believe, is what will indeed happen ( I don't believe the U.S. would ever openly default on its debt- although it would be the most honest approach, in my opinion.)
Such inflation would mean the prices of oil and food will skyrocket and the standard of living in the U.S. will decline markedly. This is the road that we are on and there is no way off.
They are attempting to fix the dramatic credit and debt crises by providing more credit and adding more debt. The fundamentals are clearly unsound at this point. Asset values have yet to crash or fall to sustainable levels due to the infusion of money. There was no correction in the economy to soak up the debt and credit crises - they papered over the crises with yet more credit and debt. The crises is not over, the real correction hasn't taken place yet.
Bankruptcy will come when fuel and food prices rise beyond the means of average Americans to pay - (which should be in the next two years time). So it will never be officially declared.
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