Thursday, April 7, 2011

Guess Who's Paying for Health Care?

Paul Krugman Finds the Man Behind the Curtain

On his blog today Paul Krugman

notes that federal spending on healthcare a percent of GDP goes down under the Ryan proposal.  Krugman correctly notes the absurdity of this in an environment where the elderly population is rapidly growing.  The math is simple.  If health care spending as a percent of GDP is growing, as it must in the next decade and the share of government spending on health care as a percent of GDP is falling, then it can only mean that the share of health care spending by individuals is rapidly growing.

The Ryan plan does not save money, it merely shifts the burden to the old, the weak and the sick. 

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