Basic Economics of Obamacare

Seeking Liberty presents the basic economic concerns about Obamacare in terms so plainspoken even a progressive liberal can understand them (and understand I’m saying that not because I think progressives are stupid – I’m saying it because I think they’ve never been taught basic economic theory):

Now class, time to explain the basics of why the Health Care Takeover will be certain to raise prices for health insurance and health care in the long run.

Go back to your high school economics class. Do you remember the Supply-Demand Graph every economics teacher is required to draw on the chalk board? The one that looks like the graph in algebra with an “X” on it. Remember how you didn’t really understand it when they were done? It’s probably because they didn’t understand it either, but it’s really quite simple, and I’ll be able to explain in just five or six paragraphs what your text book and teacher took three chapters and six weeks to try. I’ll start from the beginning as if you’ve never had it explained to you before. Because in reality, you probably haven’t.

The piece goes on to explain the basics of a supply and demand graph, and how increasing demand while not increasing supply will increase cost. If you’re not familiar with economics, it’s worth following along and drawing the graph yourself.

This is why I support teaching civics and economics in K-12 education. It’s also probably why despite claims of support for education, progressive don’t want to teach these things to our children: if people understood this, they wouldn’t have supported Obamacare.

Read the whole thing here.



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