Monday, October 27, 2008

Greg Mankiw's Blog: The McCain Health Plan

Greg Mankiw's Blog: The McCain Health Plan



Finally, the credit has important implications for the nation's finances down the road. This is perhaps the most important aspect of the proposal.

There is an enormous unfunded liability associated with the major entitlement programs of Social Security, Medicare and Medicaid. If left unchecked, the growth in these programs will nearly double the size of the federal government by 2040, consuming roughly 40% of the nation's output rather than the 20% today. While the growth in Social Security is largely the result of demographics, the growth in Medicare and Medicaid is also driven by the rapid growth in health-care spending. This is where a proposal like Sen. McCain's can be so important.

I don’t know much this complex important issue, for me learning. But I wonder how many people cares about after their life! how many people actually cares about their children and their grandchildren time after their death. but people in the position who make policy shouldn’t be a quintessential middle man who only takes transitory – careless the cost and foundation of the civilization that might lead to collapse whole but we are smart species who knows we might discover something make human species diseasesless – never die O man that would be disaster! that mean stop the evolution?

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