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Are Social Security and Medicare running out of money?

21 min · 20 de jun de 2024
Portada del episodio Are Social Security and Medicare running out of money?

Descripción

These Trust Fund accounts are supposed to have enough money to cover me when I get old, will it happen?!?! Phil and Professor Pete will shed some light on this issue, do not listen to the politicians, listen only to us!

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episode Why Does Health Care Cost SO MUCH??!! artwork

Why Does Health Care Cost SO MUCH??!!

I hate this job, but I cannot quit to do what I really want because of the health care!  Why all the arguing, why don’t they just tell me the truth about Health Care Costs??  Let’s tap into Professor Pete’s years in healthcare economics and finance, hear about his new book "American Healthcare: Why it Costs so Much yet Remains a Beacon of Growth and Development" and…get beyond the rhetoric to the solution!! American healthcare costs too much. The reason is not utilization. Americans do not differ that much from others. The primary reason is price. A noted Princeton health economist once quipped "Its the prices stupid" when asked why healthcare is so expensive in the United States. Various reasons account for the high prices. Chief among them are what economists call moral hazard. It is easy to be a hero and spend whatever it takes on healthcare if insured and others pay the tab. This leads to competition focused not on price but rather perceived quality. Healthcare competition encourages differentiation at all levels. Monopoly power, sometimes underpinned by government licensure is yet another big problem.

20 de ago de 202434 min