Federal Government Can’t Fix Healthcare|5 Minute Video
Why is the federal government so bad at healthcare? Why did Obamacare make it more costly than it currently was?
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Script:
Why is the federal government so bad at health care? They’ve been at it for seventy-five years and still can’t get it right. It’s expensive. Gain access to is spotty. It’s stuck in bureaucracy. And it’s laden with waste.
Obamacare was expected to repair all this, but instead, like every other federal government health care program before it, it just made things even worse.
Why?
Because the federal government is a third-party payer.
Let me describe.
Suppose you are going to purchase something for yourself. You have 2 priorities: rate and quality. You desire the highest quality for the most affordable possible price.
State you’re purchasing a tv. You have numerous alternatives: the size of the screen, the quality of the image, the price. Just you know which one best matches your requirements and your budget. And a lot of companies are contending for your business. You do your research; you make your choice.
This is called a first-party purchase– the person paying is the person utilizing.
Now, let’s expect that either the rate or quality is not managed by you; in this case, you are purchasing something for somebody else. You care about the price due to the fact that you are paying for it, but you are a little more versatile on the quality. A fine example would be a wedding present– say, a coffee maker.
You might believe, by the time it breaks they’ll forget who offered it to them anyway … the cheaper one will be great.
All of us have purchased things for others we never ever would have bought for ourselves. We appreciate the price because we’re paying for it, but not a lot about the quality because we’re not going to utilize it.
Or, suppose that we’re going to use something, but we’re not going to pay for it. We’re concerned about the quality since we’re consuming it, but the cost is not as crucial since we’re not paying for it.
These are called second-party purchases. The individual paying is not the individual using.
And now, for the coup de grace: when it is not your money spending for something, AND you don’t use it. You’re not concerned about either the quality or the cost.
Suppose the boss gives you $150 to buy a door reward for the office celebration. In a shop window, you see a six-foot tall stuffed frog marked $149.00 You believe, Oh, that’s perfect– let’s buy it. The raffle winner is awarded the six-foot frog. Everyone makes fun of the gag.
Now, this is called a third-party purchase– a purchase that is made with cash that is not yours (therefore you don’t care about the expense) to buy something you’re not going to take in (therefore you don’t care about the quality).
Here’s the point: By definition, all federal government purchases are third-party purchases. The government invests other individuals’s money on things it won’t take in. It doesn’t appreciate the quality or the rate. Hence, there will constantly be waste in government spending.
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source
You have many choices: the size of the screen, the quality of the image, the price. Now, let’s expect that either the price or quality is not managed by you; in this case, you are purchasing something for somebody else. You care about the cost since you are paying for it, however you are a bit more versatile on the quality. Here’s the point: By meaning, all government purchases are third-party purchases. It does not care about the quality or the rate.
