The TRUTH SOURCE

Revealing relevant political and religious news, history, topics and truths

Healthcare / U.S. Debt

This section is dedicated to those things related to the U.S. Healthcare Crisis: 2017 and National Debt Crisis in the United States.  In 2017, Federal Government Healthcare spending will surpass one trillion dollars ($1,050,000,000,000), about 25% of the CBO projected 2017 U.S. Federal Budget Outlay; and along with military spending will create a Deficit of nearly $700 Billion – increasing the current $20.3 trillion National Debt ($20,300,000,000,000 – October 2017).

From 1945 to 1963, the National Debt increased from about $250 billion to $305 billion – that is from 1789 to 1963 (174 years) it was $311 billion.  Or from 1913 (Federal Reserve and Income Tax) to 1963, after two World Wars and 50 years it increased from $2.9 billion to $305 billion.  In order to maintain it, Congress used budget constraints and taxes on high incomes. At that time (1963) the average medical and legal professional made nice but reasonable incomes, average life expectancy was about 67 for males and 73 for females, and HEALTHCARE was affordable.

In 1980, health care cost increased from $146 per person in 1960 to $1,110 per person or 9% of GDP according to Kaiser Family Foundation using the OECD Health Statistics database.   Note that since the 1970s the United States has spent more on health insurance as a share of GDP than any other OECD Country.   The M2 Money Stock increased from less than $300 billion in 1964 to $1.6 trillion by the end of 1980.

During the 12 years of the Ronald Reagan and George H. W. Bush period from 1981 to 1992 the NATIONAL DEBT increased from $1 Trillion to just over $4 Trillion.  In 12 years, the National Debt increased FOUR TIMES (4x) as much as all the accumulation from 1789 to 1980 (190 years); each 1 of those (12) years equaled an average of 15.8 years from America’s preceding history.

Reports by RAND Corporation and the Bureau of Labor revealed that health insurance costs relative to payroll increased 34% between 1996 and 2005; and RAND cited studies that revealed over a 90% increase in total health spending during the same period; and that during the same 1996 to 2005 GDP rose 51%.   They more importantly said that “most economists believe that health insurance premium costs are ultimately passed back to employees in the form of reduced wages… (Monthly Labor Review, June 2008)”

The National Debt in 2001 was $5.8 trillion and by the end of Bush’s 8 years in 2008 it surpassed $10 trillion – thus, it was obvious that the U.S. Government could through the Federal Reserve electronically create M2 money and funds to cover our chosen Debt Ceilings – the Fed is the best Government Credit Card ever schemed – it surpasses all the EU and Vatican Euro printing presses combined.  Nevertheless, after 2001 would come: America’s longest war, outrageous corporate profits to international corporations, increased inflation, the creation of billionaires, millions of dead civilians in the Middle East and the creation of ISIS in a US prison camp.

UNLIKE after all the previous 20th century wars, INCOME TAXES were not raised to pay for the Middle East Wars.  In fact the top bracket DECREASED from 38.6% in 2001 to 35% in 2008.   By choice or coercion, Congress placed agendas of corporate lobbyists, the UN, Bilderberg, Trilateral Commission, the CFR, and the like above the future and cares of average citizens.

In 2002, White House advisers estimated that cost of invading Iraq between $50 billion and $200 billion; and by October 2007 the CBO reported that $600 billion had already been spent in Iraq and Afghanistan, including related cost such as Veterans care.  At that time, before Obama would take office, the CBO estimated the wars in Iraq and Afghanistan could top $1 trillion.

The Watson Institute of Brown University estimated in September 2016 that “as of August 2016, the US has already appropriated, spent or taken on obligations to spend more than $3.6 trillion in current dollars on the wars in Iraq, Afghanistan, Pakistan and Syria and on Homeland Security (2001 – 2016).  To this total (add)… fiscal year 2017… the total …reaches $4.79 trillion.”

January 2009, Barack Obama took office as the president of the United States.  One year later, March 2010, he signed into law the Patient Protection and Affordable Care ActObamacare.  For many years the majority of the public wanted pre-existing conditions to be covered; yet, the 1996 Health Insurance Portability and Accountability Act (HIPPA, signed by Clinton) did not meet the needs of a great percentage of Americans.  HIPPA did significantly increase health insurance cost – primarily due to its new Group Health Plans laws.

According to eHealth (‘first-ever health insurance application online 1999’) the Average Individual Health Insurance Premium (PER MONTH) in 2008 was $159 with an average $2,084 deductible; Family coverage was $369 in 2008; and by open enrollment 2017 the average individual premium was $393 with a $4,328 average deductible and Family premiums averaged $1,021 with an average deductible increasing from $2,760 in 2008 to $8,352 in 2017.

Medicare and Medicaid Services’ NHE Fact Sheet (June 2017) reported, “NHE (National Health Expenditures) grew 5.8% to $3.2 trillion in 2015, or $9,990 per person, and accounted from 17.8% of Gross Domestic Product (GDP)… Hospital expenditures grew 5.6% to (over $1 trillion)… Physician and Clinical Services Expenditures grew 6.3% to $634.9 billion… Prescription drug spending increased 9.0% to $324.6 billion in 2015… (after) 12.4% growth in 2014… The largest shares of total health spending were sponsored by the FEDERAL GOVERNMENT (28.7%) and the Households (27.7%)… private business share …accounted for 19.9%… state and local governments accounted for 17.1%…”

The U.S. Money Supply (M2) increased from $286 billion in 1959 to about $8.2 trillion in 2009 when Obama took office to over $13.2 trillion in 2017 when he left office.  Uncontrolled mandatory and entitlement programs, war spending, foreign aid, debt interest, monetary policies, rates of interest on loans, low taxes on the wealthy would all contribute to the historical high health premiums on Americans accompanied by historically high Debt Ceilings and National Debt.    And the Office of Management and Budget shows estimated deficits are more than a half trillion dollars per year from 2017 to 2021.

2017 Budget: $3.6T in Receipts – $4.1T in Outlays = $503 billion deficit or 14% above Receipts, and the Debt Interest of $304B was 7.3% of outlays and 8.5% of Receipts; with National Defense of 15% of outlays and ‘Human Resources (Education, Health, Medicare, Soc. Sec., Income Sec.)’ being 72% (15.4% of GDP); with $20.3+ Trillion in National Debt.

https://www.gpo.gov/fdsys/pkg/BUDGET-2017-BUD/pdf/BUDGET-2017-BUD.pdf

 

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