I mentioned in my previous blog posts that Bio tech is not cheap, and as Hoven puts it: "So while you might not die, the U.S. health care system does give you the age-old offer of "your money or your life..."" And a lot of the general public cannot afford most of the new technologies that could save their life. Joel Harrison found out that "The United States accounts for 51% of all global spending on medical research, according to a 2006 Global Forum for Health Research report. The report estimated that 60% of this is public funding, 8% comes from nonprofit institutions, and only 32% comes from the private sector." Funding for research to progress Cancer vaccines is lacking, since a working vaccine for tumors announced in 2000 and 10 years later it still hasn't made major news worthy progress. George F. Will made the analogy "In the auto industry, if the steering-wheel maker charges an exorbitant price, the car company finds a more competitive supplier. In health care, if the medical equipment supplier charges an exorbitant price, none of the other medical participants care." The biotech industry can price its products whatever it wants, sometimes the price really does encompass all the costs put into its research and development. And other times its priced to make a large profit margin, either way there is no price regulation for these vaccines.
"The president’s grandiose government-takeover-and-control strategies are going to make things worse and worse — that is, unless members of that tiny band known as the Republican party can stand on their hind legs and just say no." I totally disagree with Larry Kudlow’s statement here. I believe our health care system requires change, In Joel Harrison’s article the US pays the most for healthcare, yet other countries’ systems are far more efficient. According to Harrison “more than 60% of the $2 trillion annual U.S. health care bill is paid through taxes, according to a 2002 analysis published in Health Affairs by Harvard Medical School.” And if we already have been paying for a universal healthcare system, why not expand it to benefit ourselves too? When we pay for health insurance most of that money doesn’t even get used on us, plus our providers can deny coverage for what we need even if it is not the best choice for us. So I think our new healthcare system should be a pool of what we’ve been paying but it actually gets spent on us. But it should be justified when it gives out the money, for example, if somebody gets a cold, they can pay out of their pocket for some over the counter cold medicine, but if somebody breaks a leg or gets cancer, they should get a stronger coverage. So money is not spent unless it is completely necessary and the chances for putting our country in debt are slimmer, unless everybody breaks their legs at the same time of course.