I think we all need to see what could happen when our leaders volunteer all of our money to guarantee the "gambling debts" of the power elite. Disaster. And it could derail all healthcare and education spending plans for all of us for decades to come while we repay that huge debt that we had been stuck with. Thats what happens when countries let the powerful loot them of everything of value. Its an increasingly common story. The difference between them and us. They can and do leave, sticking others with the bills. We can't.
Assuming that the "book values" of debts held by US banks are TRUE,
The Outstanding Public Debt of the US = $ 12,263,951,073,066.12
The estimated population of the United States is 307,662,824
so each citizen's share of the NATIONAL debt is
$39,895.16.
However there is another bigger debt as well. They are called "Sovereign Debt" elsewhere.. the investments in securities and other financial instruments that have been guaranteed by their governments in one way or another - for example, funds in the US in banks that our government has pledged to keep solvent. That debt is larger than the combined GNP of the rest of the world.
Iceland recently hinted that its government might not repay debts accumulated by its banks, (debt per capita amount, around $357,000) and they were declared a terrorist nation. Its possible that the per-capita debt borne by each American may be extremely high. We don't know. It certainly is very high.Much more than just $40k. Thats why a lot is riding on the backs of the American people, we must generate profits for the investors. This is why some feel that healthcare prices must be maintained at all costs.
This huge based also in part on real estate values, was why electing a friend of the banking industry like then Senator Obama to guide healthcare into a profitable direction was so important. More important than the ruined lives of the little people. This may also be why President Obama has been spending so much time with Billy Tauzin of PhRMA. (an average of a visit every two weeks)
Ponzi scheme or not, healthcare prices, drug prices, the huge profits the corporations make on the ill must not be allowed to collapse now. Its the brightest spot in the economy. Obama alluded to this when he talked about his healthcare cuts. Nothing must increase the Federal deficit or impact that one sixth of the economy that is based on extortion, so that money is available to bail the banks out if they need it. Nothing. Did he make that clear? Also. nothing must be too good of a deal for the poor. The caste system must be preserved.
How are the healthcare dollars we spend allocated?
The government pays from 50-60% of the money spent on health care already. That is Medicare, the VA and also, money spent on the poor, often, after insurers dump the sickest people. In his campaign FAQ, Obama mentioned the sick employee. Well, often when someone gets sick, they manage to remain working, and doing their jobs well, but they lose their jobs anyway. Its the way insurance is priced, that causes that issue, it's a big problem, and the insurers were unwilling to give it up. The government also doesn't seem willing to legislate that all insurance be priced equally for people the same age in the group market. Even though thats easily 3/4 of all Americans with insurance.
So, many will continue to lose their jobs and healthcare when they get sick and then lose everything they own.
Isn't it a bit weird? That the kind of predatory pricing policies that terrify small business into laying off people who get ill aren't going to change under the 2014 bill?
Well, that would hurt the insurance companies because that change would effect a lot of people. As long as the changes are only for the expensive NONGROUP policies where they can jack up rates up to three times higher by age, I guess they figure they wont impact them much. Group policies will continue to discriminate on both health and age.
But I'm getting off my subject, aren't I?
Where does our money go, the money we, not the government spend on health insurance premiums. The rest of that money, the nongovernment 40-50% is insurance and families bills. Of the money taken in by insurance, maybe 30-50% or sometimes, even more, is not spent on care. Of the money taken in by hospitals and doctors, etc, maybe 30-50% is money that is spent on billing. The brokers also get profits for each poilcy they sell. How much money isnt spendt on care. I would say that at least 50% isn't.
But, that money is spent on something. It's basically spent on denying.. Thats their main function, denying. They are really, more than anything else, "insuring" that the rich stay rich and the poor stay poor, because sickness drains people's energy like nothing else. It makes the top less competitive for the friends of the banking industry, whose success is SO important to preventing the collapse of the BIG PONZI SCHEME.
They don't even thank us for this help. They just take the money. And run.