In a speech in Illinois this past week former President Obama called “Medicare for all” a “good new idea.”

He said, “It’s harder for young people to save for a rainy day, let alone retirement. So Democrats aren’t just running on good old ideas like a higher minimum wage, they’re running on good new ideas like Medicare for all, giving workers seats on corporate boards, reversing the most egregious corporate tax cuts to make sure college students graduate debt-free.”

Sen. Bernie Sanders actually has such a bill pending that would nationalize and socialize the U.S. health care system and claims he has 16 Democratic senators supporting it. Sanders has argued that the United States spends almost three times as much on health care per capita as the British, who have a socialized system.

Nevada Democratic Sen. Catherine Cortez Masto said in August she supports an eventual move to a “Medicare-for-All” but that it is not immediately plausible.

“I applaud the concept, I understand what they’re trying to do at the end of the day, which is get us to the day where we have health care that everybody has and they can afford,” she said in an interview with the online news site The Nevada Independent. “And what it looks like, you can call it whatever you want, but we’ve got to take incremental steps along the way and bring everybody along.”

Nevada Republican Sen. Dean Heller meanwhile is said to be leaning toward supporting a move by Republican Sens. Lindsey Graham of South Carolina and Bill Cassidy of Louisiana, who would take money spent under the Affordable Care Act and give it to states in the form of block grants.

As for Medicare for all, a recent George Mason University’s Mercatus Center study found Sanders’ plan would add $32.6 trillion to federal spending in its first 10 years and costs would steadily rise from there. Doubling corporate and individual income taxes wouldn’t cover the costs.

The proposal also would amount to a roughly 40 percent cut across the board in payments to doctors and hospitals, a devastating blow to the economy. With rural hospitals already going out of business, image how many more would have to close and how many doctors would retire or change professions.

As if the costs were not enough, that aforementioned British socialized health system earlier this year was forced to cancel 50,000 non-emergency surgeries due to hospital overcrowding. Emergency room waits were said to be as long as 12 hours.

You don’t have to pay as much for something you don’t get.

— TM

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