Among the misinformation and disinformation most prevalent in the "Obamacare" debate is the concept of supply and demand. To summarize "if we don't pay for a service, that reduces the cost of the service". No, it does not as pointed out by the great economist Thoma Sowell in this NRO article.
We are already reaping the harvest of this slanted thinking in Medicare, where declining reimbursements to doctors are reducing the number of doctors who will see medicare patients!
So what is the prescription from Obamacare? Grossly stoke demand (free healthcare) while reducing payments to doctors. Reducing the payments to doctors does not lower the cost of service. It will begin to lower the number of doctors who want to remain working as doctors. In particular, it is likely to impact those doctors who have been in the profession the longest and who can afford to get out. You know, the ones with all the experience in treating patients.
A scheme only a government bureaucrat could love!
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