Health care is the next bubble: When government subsidies collapse, prices will normalize

The Washington Times reports:

Government spending on health care has increased 5,400 percent since 1970, while total government spending has increased 1,890 percent, writes Dr. Andrew Foy in the summer issue of the Journal of American Physicians and Surgeons. With the federal government already borrowing 40 cents of every dollar it spends, continued inflation of the bubble must stop eventually.

With Obamacare, the federal government is trying to offload the financial burden while placing additional huge demands on the system: more people "covered," but less paid to people who care for patients and more costs shifted to states. The purported "savings," to the extent that they don't represent cuts in services, are accounting gimmicks. One-fifth of U.S. households make less total income than their share of national health spending, which is close to $21,000. No matter how we redistribute the burden, we just can't afford it.

The health care bubble will burst.

Just a reminder.