Throwing Out the Baby With the Bathwater: Obama Health Care Will Cost Piles of Money, Not Save It

As the AMA endorsed the House version of Obama care, which as I pointed out yesterday, would spell the death knell for private health insurance (did the endorsers have time to read the 1000 + page bill?) and institute a utilitarian oversight rationing board over all of our health care—except for members of Congress, of course—the head of the Congressional Budget Office has issued a warning about the cost of this debacle. From the story:

Further doubts about the high cost of Obama’s effort emerged on Thursday when Congress’ own independent budget analyst said reforms now being considered would do little to control rising costs. Republicans and fiscally conservative Democrats seized on this, and called for more controls on the scale and cost of the plan. Congressional Budget Office chief Douglas Elmendorf told the committee its legislation would expand federal spending on healthcare “to a significant degree” while doing little to trim costs.

This further illustrates the need to for Congress to be deliberate, rather than acting like stampeding cattle. This isn’t a matter, as the President so often likes to say, between doing nothing or his reform. Changes need to be made. But the health care system remains basically sound, and to use the old cliche`, the current proposals would throw the baby out with the bathwater and bankrupt the country (in connection with other reckless spending beyond our scope here) at the same time.