Yesterday, the United States finally joined the ranks of civilized nations with Congress passing a commitment to look after every citizen's health-care needs. The bill now goes to the White House for President Barack Obama to sign into law.
Of course, some marked this as the beginning of a Soviet-style, Canadian, socialist, commie health-care system. Some threatened to derail it. And radio hate-host Rush Limbaugh threatened to leave the U.S. health-care system if this is passed and go to Costa Rica. Does he know that Costa Rica has a government medical system like communist Canada's?
Amusement aside, the legislation benefits millions, as well as the economy, because universal health care is not just smart and fair social policy, it is also smart economic policy.
For instance, workers in Canada, Europe or Japan who lose their jobs lose income. But until now unemployed American workers faced financial ruin if sickness struck them or their families, because they lacked health-care coverage. Bridge coverage has been available but unaffordable for anyone but the wealthy. Worse yet, if a major illness was diagnosed during unemployment, a worker became unemployable, bringing about a life sentence of poverty.
These catastrophes disappear under the reforms. Consumer spending, which had ground to a halt in the United States, can increase as people realize they don't have to set aside huge amounts to pay for a serious illness, do without necessities to pay medical bills or go bankrupt because of an appendectomy.
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