The facts support implementing health care reform now. For example, according to a report published last June by the White House Council of Economic Advisers:
[H]ealthcare spending, which currently accounts for about 18 percent of the country's economic output, could reach 34 percent by 2040 if the current rate of cost growth continues. The report called that outlook "unsustainable."(Via Reuters).
Most working Americans with health insurance get it through their employers and the study said rising costs have increased insurance premiums and cut into workers' wages. A reform that reins in costs would improve economic efficiency and boost economic output by more than 2 percent in 2020 and by 8 percent in 2030, the report concluded.
That would translate into $2,600 in higher income for a family of four in 2020, rising to $10,000 by 2030, the report said. Since about half of healthcare costs are paid by federal, state and local governments, their budgets also would benefit greatly by reform, it said.
Providing medical coverage to the uninsured will also help the economy by improving the overall well-being of the work force -- providing a net benefit to the economy of about $100 billion a year, the report said.
Without the overhaul, the number of uninsured Americans would rise to about 72 million in 2040, it said.
The status quo cannot continue. Let's just get the necessary changes done now, folks.
Check out the full video of last night's press conference by President Obama on the topic of health care reform.