The federal government is a wasteful web of deceit. Never before in the history of modern civilization has such an inherently irresponsible representative republic been allowed to damage so many salient economic facets of the lives of its citizenry.
That any significant portion of the electorate would support handing such a significant sector of the American economy to the same bureaucracy that has systematically corrupted every financial institution it has dared to regulate or take over is a testament to the general public’s apathy and/or lack of education regarding the consequences of handing power to the most irresponsible caretakers imaginable.
Even with those considerations to ponder, there is a more drastic and immediate consequence for America’s economy should the Democrat-controlled coalition of government have its way and ram through what will amount to a public takeover of the health care industry – and it’s a consequence that may wake up the sleeping giant (i.e. the American public) to stop this train wreck once and for all:
What is to become of the 440,800 (BLS, 2008) Direct Health & Medical Insurance Carrier employees who earn their living in the private sector?
Unemployment is more than the lagging economic indicator. It is the true measure of an economy’s macro stability. The staggering cost of the health care bill that will likely emerge from congress will add to yearly deficits and the national debt. But the damage it will do to the insurance industry and the workers employed by its companies will not wait until the program kicks in and will permeate every other industry that stands to be damaged by public intervention into free markets. Once it becomes clear that existing private companies will not be able to compete with a public option underwritten by a government that simply prints new money when it overspends, it will only be a matter of months before private insurance businesses will necessarily begin to pare down employee roles – or worse, close down shop for good.
The nation’s economic future depends on the implementation of public policies that augment existing workforces, not trim them. Intended or unintended, this consequence must be trumpeted by opponents of current proposed health care reform measures if such measures are to be prevented from becoming laws. If there is one thing that can cripple a damaging agenda in Washington, it is a public policy that stands to send hundreds of thousands of working class Americans to unemployment offices. This is the reality that bears repeating on a regular basis if the Democratic Party’s transfer of health care from the private sector to the public is to be stopped.
Bureau of Labor Statistics. (2009). Retrieved from: http://www.plunkettresearch.com/Industries/Insurance/InsuranceStatistics/tabid/238/Default.aspx