Healthcare Debacle

The Democrat's healthcare plan would very possibly be the worst legislation in American history if passed. It will lead to an explosion of government spending and associated taxes; reduce innovation in drug and medical product development; destroy choice; lead to government rationing like wait lists for necessary procedures like we see in Canada and other countries with government-controlled healthcare systems; and encourage the elderly to avoid medical treatment to save money.

All of its implications are terrible, but perhaps the worst is that price controls and limitations will reduce the development of new drugs and medical devices that have done so much to improve healthcare. You, a loved one, or a friend may suffer or die because of a drug or device not developed due to the government's growing role in healthcare - and you won't even know it since you will never know about the innovations that didn't materialize.

But we do know that price controls lead to lower profits, which lead to reduced incentives to develop new products. That is basic economics.

Nothing illustrates how bad this bill is than that Congress has quietly exempted itself from the law. The Republicans had added a provision that the new health insurance plan would apply to members of Congress, and the Democrats removed it.

The significance of this is not that the Congress should be subject to the bill's provisions (although they should); it is that none of us should be subject to it. If Congress doesn't want it, why should any of us have to suffer under its provisions?