by Mario Rizzo
The Financial Times reports today that the Republicans may be backing away from the (Paul) Ryan proposal eventually to replace traditional Medicare with subsidies for the purchase of private insurance. The Financial Times says, “This would shift exposure to rising health costs away from the government and on to seniors…” Of course, this is literally true if there is never an increase in the dollar amount of the subsidy, an unlikely event in view of the regular increases in Social Security benefits.
Putting aside, for the moment, the details of the Ryan plan, what many voters refuse to understand is the unpleasant choice they inevitably face. Either cost-control by the consumers or cost-control (aka rationing) by the State. The issue is stark. Continue reading