Wednesday, January 27, 2016

Medical Bills and the American Car

   Learned that the expense of benefits was a major reason for the auto companies asking for a bailout six, seven or eight years ago.
   As in health benefits. As in, the cost of our medical system brought the American auto industry to its knees. I've considered in the past how health care costs contribute significantly to the national debt, and how they make a large share of the personal debt of Americans.
   And, so now I learn this, and it adds to my concern that the medical industry is strangling America.
    Just a few notes on what happened back then.  It was estimated that the difference in benefits for workers costed the American auto makers $350 - $500 more per car than what their overseas competitors faced. The Big Three asked Congress for $50 billion to pay health care costs to avoid bankruptcy and layoffs. Congress granted them a $25 billion loan. That was not, at all, the full of the auto bailout, but, I believe, it was the beginning of it.
   So, it is not accurate to say the inflated prices of medicine, in part, led to the greatest challenge our auto industry has ever faced?

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