The verdict is in for Senator Barack Obama and Senator John McCain’s health insurance reform plan: Neither will work.
Top economists reviewed each health insurance proposal and had matching conclusions that neither Democratic candidate Senator Obama nor Republican candidate Senator McCain’s plan will do any good for Americans, reported the Associated Press and The Washington Times.
Under Senator McCain’s reform plan, workers would be pushed out of the employer-based health insurance system — around 20 million, estimates these economists.
McCain’s plan does allow people to purchase individual health insurance across state lines, which will result in about 21 million obtaining coverage.
The $2,500 and $5,000 tax credits Senator McCain provides won’t offer any savings, either, explains the critique. Once premiums start to increase and coverage benefits are cut, the tax credits won’t do much to help Americans get ahead.
Basically, these economists dismissed McCain’s plan as doing nothing to reduce the number of uninsured Americans.
They didn’t have any better things to say about Senator Obama’s plan. Two of the three economists grading Obama’s plan were McCain advisors, so it was pretty tough.
According to Obama’s critique, his proposal would be very costly for the government and hasten health inflation. And because the Illinois Senator would require businesses to provide health benefits for workers, it would result in job loss or pay cuts.
We’re thinking the reports were a bit cynical. But what do we know compared to the experts?