In an opinion piece in the Wall Street Journal today, John Mackey, the CEO of Whole Foods, lays out a very cogent and convincing alternative to the massive restructuring of our healthcare system being proposed by the Democratic leadership in Congress and the Administration.
“With a projected $1.8 trillion deficit for 2009, several trillions more in deficits projected over the next decade, and with both Medicare and Social Security entitlement spending about to ratchet up several notches over the next 15 years as Baby Boomers become eligible for both, we are rapidly running out of other people’s money. These deficits are simply not sustainable. They are either going to result in unprecedented new taxes and inflation, or they will bankrupt us.
While we clearly need health-care reform, the last thing our country needs is a massive new health-care entitlement that will create hundreds of billions of dollars of new unfunded deficits and move us much closer to a government takeover of our health-care system. Instead, we should be trying to achieve reforms by moving in the opposite direction—toward less government control and more individual empowerment. Here are eight reforms that would greatly lower the cost of health care for everyone:” Please click on the link above for the rest of the column.
We have been extremely concerned about the unseemly rush to pass a healthcare bill that members of Congress haven’t even read, much less understood well enough to explain it to their constituents.
As Mr. Mackey notes, proponents of this approach argue that access to healthcare is a “right”. How can something be a right if it does not exist in limitless quantities? If healthcare is a right, can we force people to go to medical or nursing school in order to provide services to anyone who is entitled to them?
This is one of my clients. This is Crossvault Capital Management. Yup, they are a client, but I am also a client of theirs. While my portfolio is down a bit, it has recovered a bit and had I not take their advise 18 months ago, my retirement would have been further in the shitter.
Don’t look for hot stock advise here. You ain’t gonna find it. Laura & Marilou get the long term, and invest accordingly.
Oh, aside from being really smart, did I mention that they are really nice people?