Latest Events

Sorry, no events to display

OVER 15 PERCENT OF AMERICANS UNINSURED

Rep. Joe Wilson . . . CLM?

According to a September 2009 report by the US Census Bureau 38.9 million people lived in poverty as compared to 37.3 million in 2007. The poverty rate was 13.2 percent in 2008, up from 12.5 percent in 2007. The 13.2 percent poverty rate was the highest in the past 11 years. The poverty rate by race was whites (8.6 percent - up from 8.2 percent in 2007), Asians (11.8 percent - up from 10.2 percent in 2007), Hispanics (23.2 percent - up from 21.5 percent in 2007) and Blacks (24.7 percent - unchanged from 2007). The percentage of people without health insurance in 2008 was not statistically different from 2007 at 15.4%. However, the number of uninsured Americans increased to 46.3 million, up from 45.7 million in 2007. These statistics underscore President Obama's call for healthcare reform.

The two statistics go hand-in-hand in that you pretty much have to have a job in order to afford health insurance. Umployed Americans probably do not choose the COBRA option because it is too expensive and simply go without. Whether that will involve the government taking over healthcare altogehter remains to be seen. The cost of healthcare is rising at multiples of the rate of inflation and there appears to be no end in sight. Healthcare is an inelastic good, in that demand does not vary directly with price and the price is rising at multiples of the rate of inflation. It is a necessary good and people will pay through the nose for it. The cost of medical malpractice suits and medicines/procedures that help people live better (viagra, lasik surgery) are all be passed along to the consumer, many of which simply want and need only basic healthcare services.

Here is what the Shock Exchange had to say on the subject in March 2008: http://www.newyorkshockexchange.com/content/view/52/59/

Please login or register to post a comment.

JComments

< Prev		Next >

[ Back ]

Visitors: 1641519

Visitors: 1641519