Democratic leaders have stood by the president as he faces questions about his ability to defeat Trump in November. But privately, many are expressing concern.
In this analysis, we found that economic output would be between 0.3 percent lower and
1.8 percent higher than the benchmark economy 10 years after the single-payer system was
implemented, without incorporating the effects of financing the system. Under a single-payer
system, workers would choose to work fewer hours, on average, despite higher wages because
the reduction in health insurance premiums and OOP expenses would generate a positive wealth
effect that allowed households to spend their time on activities other than paid work and
maintain the same standard of living. If the system was financed with an income or payroll tax,
gross domestic product (GDP) would be between approximately 1.0 percent and 10 percent
lower by 2030, depending on the specification of the single-payer system and the details of the
financing policy.
Sounds like we pay by having a loss of GDP measured between 1% to 10%. That’s rather substantial.
CBO is the non-partisan accountants of the US Senate/House. They are our best estimate on the true costs of various programs.
That’s cool and all, but GDP is related to… You guessed it. Inflation.
I recognize that Republicans overemphasized GDP but it’s a chief metric for a reason. If our top line GDP drops it will absolutely be a problem.
If you want to bring up easy inflation gremlins into your argument, be my guest. But inflation is already a weak point for Democrats and I expect y’all to get hammered on it even harder moving forward.
https://www.cbo.gov/system/files/2022-02/57637-Single-Payer-Systems.pdf
Sounds like we pay by having a loss of GDP measured between 1% to 10%. That’s rather substantial.
CBO is the non-partisan accountants of the US Senate/House. They are our best estimate on the true costs of various programs.
Your arguing that workers who would have the option under single payer healthcare to work less is a bad thing? Jesus christ dude.
Go look up GDH.
That’s cool and all, but GDP is related to… You guessed it. Inflation.
I recognize that Republicans overemphasized GDP but it’s a chief metric for a reason. If our top line GDP drops it will absolutely be a problem.
If you want to bring up easy inflation gremlins into your argument, be my guest. But inflation is already a weak point for Democrats and I expect y’all to get hammered on it even harder moving forward.