Recently, the Mercatus Center at George Mason University released a study detailing the exact costs of a Medicare for All health care system. The results are staggering.
According to the study, Medicare for All would end up costing American taxpayers $32.6 trillion during the first ten years of implementation, under conservative estimates. This cost would be roughly 10.7% of US GDP in the first year alone, continuing to rise every year after that. To put this excessive spending proposal in perspective, the United States’ current support of our military is around 3% of GDP.
Furthermore, eliminating the recent tax cuts and doubling everyone’s taxes wouldn’t come close to covering the cost.
The Affordable Care Act has failed to provide more affordable, accessible healthcare, and enacting similar measures on an even grander scale will surely result in the same. While it’s clear the Affordable Care Act failed to deliver on its promise, Medicare for All is not the answer. Handing over control of health care to the government will double down on the failures we’ve seen with the ACA. That’s not the health care future I want for Virginia.
I wanted to make sure you knew the House has passed a number of bills to lower costs, protect vulnerable populations, combat the opioid crisis, promote research into cures and innovative treatments, improve veterans’ care, and provide more choices and flexibility. However, there is far more work to be done.
Know that I’m still fighting for a system that uses the market to put downward pressure on prices, puts decisions back in patients’ and doctors’ hands, and truly expands access to quality care.
It’s an honor to serve you and Virginia’s First District in the People’s House.