Obama Takes on Health Care

Seattle - As the economy continues to deteriorate many Americans are loosing their health care coverage at an alarming pace. According to a government report 6 million people are expected to loose their health care insurance by the end of 2010. This number includes not only people who loose coverage when they are laid off, but their families and surprisingly those who rely on Medicare that can not afford to pay for supplemental coverage. While not going into the specifics President Obama said, “Each year, 1.5 million Americans lose their homes due to health care costs. Health care must not wait another year.” Clearly this is a top priority on the White House’s domestic agenda.

While not going into the specifics of how he will reform health care, it is clear that there is a major focus on preventive care, updating the current system to electronic medical records, having online applications available and a commitment to public safety by the industry. Many reform advocates feel that by changing these factors and having the government purchase prescription drugs in bulk you can significantly reduce the cost of health care over the long term that would have a ripple effect for the rest of the economy. Meaning that if you can eliminate or reduce the amount that businesses are spending on health care this can play a role in helping to increase jobs and make many industries that are having trouble competing, such as the auto industry, more competitive by lowering a key component in their cost of doing business.

President Obama is correct the health care system is broken and the number of uninsured is spiraling out of control fueled in part by the recession and sky rocketing prices. While there are no guarantees it is clear that some form of universal coverage and cost reduction programs are coming down the road. It is a very realistic possibility that Obama will be successful in passing a major overhaul of the current system.