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Author: lindytoes Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 61243  
Subject: from Robert Reich Date: 1/16/2013 9:13 PM
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Robert Reich posted this on his Facebook page.

"Pressure to reduce the budget deficit is opening up new possibilities for progressive reform. Case in point: Remember the so-called "public option" for anyone to buy into a public health insurance plan? It died on the way to Obamacare. Well, it's being revived. Fifty-three Democrats are reintroducing it in Congress -- as a means of reducing healthcare costs, and therefore containing future budget deficits (which are fueled by rising healthcare costs). And budget pressures may attract lots more congressional support.

The Congressional Budget Office estimated in 2010 that a version of the public option that negotiated rates with health care providers would save $25 billion over 10 years; a version of the plan tied to Medicare rates could save $110 billion over a decade. That's because Medicare's administrative costs are so much lower than those of private insurers. When Obamacare was being debated, private insurers nixed the public option because they were afraid they couldn't compete with it. But now that Washington is starting to understand that the biggest factor driving future deficits is soaring healthcare costs, that argument doesn't wash.

So instead of resisting deficit reduction, progressives should embrace it, providing better alternatives: Along with the public option, cuts in military spending, elimination of corporate welfare, and a 2% wealth tax on wealth in excess of $2 million (more on this to come)."
http://www.facebook.com/RBReich
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