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Friday, March 05, 2010

Small Biz Health Care Daily: More from Ryan

Most politicians do not grasp what drives health care costs higher. But Congressman Paul Ryan (R-WI) gets it.

According to a Fortune report: "'The problem with both Medicare and private plans is the third-party-payer system,' says Ryan. 'Consumers, spending their own money, will drive down prices.'"

Absolutely correct!

Take note, however, that ObamaCare would accomplish the exact opposite, i.e., expanding third-party payments. That's a recipe for accelerating costs into the future.

Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council

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