American medical care over this period has saved the lives of millions who could not have been saved before—life expectancy today is 78.6 years. It has relieved the pain and suffering of tens of millions more. But it has also become a monster that is devouring the American economy.
The key economic concept required to understand the labor market effects of the ACA is what economists call “tax distortions.”
Americans understand that the problems facing our health care system today can be addressed without nationalizing one-sixth of the American economy.
78 million people are going to stop working, stop paying taxes, stop paying into retirement programs, and start drawing benefits.
In the 1980s an extraordinary leader attempted to take on big government and to roll back its power over the lives of its citizens.
Health care reform is one of the most complex public policy issues to face this nation since the creation of the social welfare programs of the 1960s.