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United States of America
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Arnold Kling in his recent article for the Boyd Institute:
"Another way to try to assess whether higher spending on health care reduces mortality is to look at sub-populations in the United States with similar characteristics and different levels of spending. Many studies show little or no effect of higher spending in lowering mortality. This suggests that there is a problem with cost-effectiveness in our health care system."
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America simultaneously has the lowest and highest death rates for several different racial groups, relative to the range of 36 OECD peer countries.
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It looks even worse when you express spending as welfare transfers vs. public investment. Our gov't used to spend on building things.
For those of us concerned about national debt, here is federal spending and revenue expressed as pct. of GDP and per capita in 2017 dollars. We are spending too much, not taxing too little. Graphs via @chrischantrill
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"We paid it forward" is basically a moot argument for multiple reasons
"I paid Medicare payroll tax my whole life and pay premiums now!" Seniors feel like they're getting what they've paid for.
But Medicare premiums and payroll taxes have never covered the program's costs.
Today, they cover less than half.
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From a Boyd essay contest submission titled "Gerontocracy and Its Discontents", arguing a once-in-history demographic bulge voted itself benefits it underpaid for and left the bill to a smaller generation.
"My entire life people screamed about leaving debt to their grandchildren. Then they voted for policies that prioritized the elderly. But unfortunately you're the grandchildren that the debt was left to."
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