tag:blogger.com,1999:blog-2156536327610779049.post7218238979507826951..comments2024-02-23T11:23:45.971-05:00Comments on Lost Motorcyclist: Bankruptcy as it Applies to National Health CareLost Motorcyclisthttp://www.blogger.com/profile/08873504561959138792noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2156536327610779049.post-74631028493080721382013-10-10T14:41:35.393-04:002013-10-10T14:41:35.393-04:00Laypersons often confuse the concepts of insolvenc...Laypersons often confuse the concepts of insolvency and bankruptcy.<br /><br />Because the U.S. federal government has virtually unlimited taxation powers, it is improbable that it would ever go bankrupt. However, it could conceivably become insolvent, unable to meet its debt obligations as they become due.<br /><br />The US is unique in having a 'debt ceiling' - most nations are sensible enough to realize that such a legalism is of no real value, except to gum up the budget process. <br /><br />The odds are that, as in the past, after considerable <i>sturm und drang</i>, the ceiling will be lifted. But, if this silliness is allowed to drag on, US taxpayers will have to ante up for significant additional interest charges as lenders up their rates for risk reasons (as they did in 2011, to the tune of about $20 billion in extra charges).<br /><br />As far as 'Obamacare' bankrupting the country: right-wing scare tactics and completely risible. If anything, it might even force the U.S. do something real in terms of a long overdue reform of their grossly inefficient and excessively expensive health care system ('system' used advisedly).<br /><br />http://en.wikipedia.org/wiki/List_of_countries_by_total_health_expenditure_%28PPP%29_per_capitaMadeyehttps://www.blogger.com/profile/02593933575568389288noreply@blogger.com