Wednesday, October 05, 2011

Bruce Bartlett: "CEO's are full of crap"

Former Reagan administration official on the demand destruction of a deflationary cycle:

Okay, it's a bit long but well worth it to hear someone who really understands the economic problems we are enduring, and how to fix them.  I'll make a few points:

1.  It's the demand, stupid.  D'uh.

2.  I love how Kernin carries the water for CEO's who are whining about regulation.  Newsflash: everyone complains about regulations in whatever field they are in, and the complaints ALWAYS become louder when demand falters and businesses suffer.  If demand is good, then regulations actually benefit the better-run entities.

3.  Bartlett calls out Paul Ryan and GWB for their promotion of Medicare part D-- always a favorite topic of mine because 1) Part D is emblematic of the hypocrisy of the GOP on their budget, 2) Part D has literally gutted Medicare and is the major, if not sole, cause that it's in ruinous financial shape.

4.  As an aside, Bartlett has said elsewhere that the annual doc-fix on Medicare should be eliminated, and as destructive as I think it would be to physician pay, I cannot disagree--- as long as it is accompanied with other reforms of Medicare.  Reducing health care costs cannot be accomplished solely by reducing physicians' reimbursement.  Eliminating the doc-fix would effectively throw a boulder in the pond and, yes, doctors en masse would immediately stop seeing Medicare patients... then the REAL conversation would start about where all this f**king Medicare money is going.  Trust me, Big Pharma and Big Insurance don't want that conversation.

No comments: