The United States of America, in spite of being an economic superpower also carries the notoriety for exorbitant healthcare costs and disproportionately poor health outcomes for patients. Moreover, the present healthcare system is so structured that the world wide economic…
iece of the proposal is to make health insurance affordable for all Americans so that it serves as an extension of social security in times of distress.
At present health insurance coverage of American citizens is covered by their employers, which puts them in danger of losing insurance along with their jobs. With the global economic recession more acute here in the U.S., the country has seen unprecedented numbers of job losses in the last few months. Not since the Great Depression of the 1930s did the nation confront such a disaster. It is true that a comprehensive revamp of the healthcare system at a time of economic turmoil is not practically feasible. But research conducted by the Commonwealth Fund indicates that extending insurance coverage to all American citizens would only cost an additional $104 billion for the federal government. While this may seem a huge sum in isolation, it is significantly smaller compared to the $700 billion rescue plan that the new President got ratified by Congress. In other words, my proposal for a new healthcare system endorses the implementation of the promised “universal healthcare” plan of Barack Obama. Nobel Prize winning economist Paul Krugman also supports this proposal and adds that “it is true that the cost of universal health care will be a continuing expense, reaching far into the future. But that has always been true…and the temporary expenses of his stimulus plan shouldn’t change that calculation” (Krugman, 2009).
This $104 billion proposal for universal health insurance coverage would have the added benefit of stimulating the economy. In other words, the proposed tax-cuts as part of the Obama Administration’s stimulus package could instead be substituted with health insurance provisions for American citizens across the socio-economic spectrum, thereby solving two problems at once – health care and economic crisis. And more importantly, by virtue of being applicable across social, economic ...
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