Wednesday, July 20, 2011

How to solve the US budget crisis

Here is one way of easing the budget deficit that is relatively painless (but it will never get done because the proposal runs up against too many entrenched interests). Paul Kedrosky posted this chart of the efficiency of US healthcare spending against other major industrialized countries.

What if US health care expenditures fell because it became more efficient. It's not exactly rocket science and no one has to re-invent the wheel - other major industrialized countries have done it before. Wouldn't that solve a lot of the fiscal problems that the US faces?

P.S. See my personal take here of the differences between the Canadian and US health care system here.

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