Just a few days ago I announced my candidacy in the Republican Primary for U.S. Senate against the incumbent Deb Fischer who is doing nothing to reduce our badly out-of-control national debt and, in fact, just voted to increase it by $1 trillion over the next decade.
It is the high cost of government spending for Medicare, Medicaid and the tax exemption for employer-provided care which is the main driver of federal debt.
But healthcare is also getting very, very expensive for American workers and retirees as well. In my last post, I reported that:
- A family of four paid $26,944 for healthcare expenses last year which was 44% of median family income of $59,039.
And now the Kaiser Family Foundation has reported that:
- In 2013 a Medicare beneficiaries’ average out-of-pocket healthcare spending was 41% of their average per capita Social Security income. This will rise to 50% in 2030.
Conclusion. American healthcare is expensive for workers, retirees and taxpayers. In other words, it is expensive all the way around, for everybody. There isn’t a lot of slack left to give way. The cost of healthcare will impoverish our whole country if we can’t get it under control. Stay tuned for proposed solution.