Let's be honest, Senator: you " all of you " have refused to act responsibly to keep these programs adequately funded because you are afraid to jeopardize your reelection chances. No one wants to run on a record of having supported anything that can be construed by an opponent as a tax increase. So you just don't do that " you let deficits accumulate instead.
You write that "(a) new public option will likely increase premiums for the 170 million Americans who already have private insurance." C'mon, Senator: when was the last time you saw competition increase and prices go up? My first thought if I saw that happening would be of collusion and price-fixing. You're a former attorney general: what would you think?
You say the CBO warns that public option premiums might not cover expenses in a given year and the public would be at risk for the difference. True enough. But why doesn't that happen in the private sector? It's because private insurers set their prices to cover their costs, extract a risk premium, add to their reserves, and make a profit. Or they lay off some of the risk to the reinsurance markets. A government health insurance program could do the same things if you let it.
You're right on several points, Senator: we have a horrendous economic problem on our hands. Our health care costs are out of control. And Medicare is about eight years from insolvency.
Those are real problems. But they are problems that the Congress " including you " either caused or allowed. And now you must solve them. Just don't force the neediest, the sickest,and least fortunate among us to foot the bill for you.
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