Healthcare Bankruptcy

Civil Defense Perspectives May 2012, Vol. 28 No. 4

To sell national or “universal” (that is, compulsory) health insurance,  “reformers” use individual hardship stories and statistical hype. Barack Obama claimed that medical costs cause a bankruptcy in America every 30 seconds. Senate candidate Elizabeth Warren claimed that “at least” 46% of all bankruptcies had a medical cause in 2001, and that this represented a 23-fold increase over 20 years.

Although the statistics are flawed, the cost problem is real. The proposed solutions do not prevent bankruptcy, but rather assure it—for the existing medical system, and ultimately the whole economy. Continue reading