The Supreme Court mostly upheld the Affordable Care Act, so everything’s settled, right? Hardly. Republicans are running to repeal it. The act itself is a dog’s breakfast of compromises and give-aways to the big insurance and for-profit health-care companies that keep costs here higher than in other advanced nations, while delivering overall inferior outcomes. Tens of millions will still be without coverage.
It’s amazing that other advanced nations have universal care, but America doesn’t. It puts exporters at a disadvantage and prevents healthy labor mobility — millions cling to a job for the health benefits rather than taking the risk of moving to an otherwise more productive job or becoming an entrepreneur. Yet a big portion of the electorate believes “socialized medicine” is immoral and only enables deadbeats. Polls show Obamacare, which is admittedly complex, is not widely supported. The New Yorker has an interesting article here about the difficulty of solving the problem here.
So what comes next?
Read on for the best links of the week and the haiku:
This Week’s Links:
- A huge break in the LIBOR banking investigation || Matt Taibbi
- More on the economics of the health-care mandate || Economist’s View
- For the first time since the 1920s, U.S. cities are growing faster than suburbs || Slate
- One big banking union in Europe || Project Syndicate
- Is a repeat of the recent crisis on the way for commercial real estate? || Urban Land Institute
- Slow recovery creates continued state budget shortfalls || CBPP
- America backstopping the world? Think again || Stephen Roach/Project Syndicate
- Exxon Mobil goes from climate-change denial to saying warming is ‘manageable’ || Bloomberg
- JPMorgan boss who oversaw costly trade blunders leaves with $21.5 million || Bloomberg
- Where the uninsured live || The Atlantic
- Who wants big banks? || Baseline Scenario
Today’s Econ Haiku:
Today, circling the RIM
BlackBerry got squished