In an insightful “For and Against” package in the June 2013 issue of 904 Magazine, JU economist John Buck and UNF economist Paul Mason discuss the merits (and demerits) of the Affordable Care Act of 2010 – also known as Obamacare.
Buck, a professor of economics who teaches macroeconomic policy, comparative economic development, and the economics of globalization at Jacksonville University, argues “For” in the side-by-side pieces in the Jacksonville Chamber of Commerce publication, pointing out reports that find Obamacare will lower health care costs.
“The United States spends more on health care per person than any other country. Yet, the World Health Organization’s most recent comprehensive study of global health care systems (World Health Report 2000) ranks the U.S. 38th in performance,” Buck writes in 904. “Recent United Nations reports confirm a decline in comparative rankings, such as a fall from 18th to 24th in male life expectancy from 2000 to 2009 and from 28th to 35th in female life expectancy.”
Here are some excerpts from his essay:
The Patient Protection and Affordable Care Act of 2010 (PPACA), commonly called ObamaCare, is an attempt to address some of the shortcomings of the U.S. health care system.
Reports by the Congressional Budget Office (CBO), a federal agency whose professional economists provide non-partisan analyses to legislators, estimate that (Obamacare) will reduce health care costs and will lower federal budget deficits by $143 billion between 2010 and 2019.
While the Affordable Care Act is not perfect, it significantly improves the accessibility of U.S. health insurance for millions of Americans and begins a process of streamlining the health care system to reduce costs. Even though the United States trails dozens of other countries in health care performance, the current U.S. political climate may prevent more substantial and effective reforms.
Read Buck’s and Mason’s full essays by clicking here.