“Health insurance should work like auto insurance. If I go in, it’s covered based on me paying for the premium, not based on me going somewhere that just happened to be in-network.”
You don’t have to be an economist to know that in the short span of Biden’s Presidency, America has found itself in a monetary mess. Nor do you need to be a political pundit to understand that the cause of our distress is the administration’s decidedly leftist, progressive bent. We are in an inflationary spiral- the likes of which we haven’t seen in decades. The cost of living is increasing by leaps and bounds. Looming is a recession that is bound to make it harder for us to make ends meet.
In an interview with Rebecca Weber, CEO of the Association of Mature American Citizens, on her Better For America Podcast, business and market analyst Seth Denson explained his view on the economy and America’s healthcare crisis. He assured Rebecca that he is not against health insurance, but rather what it has become following the implementation of the Affordable Care Act.
Seth stated, “I am against the way that health insurance is currently structured because it’s not insurance at all. When we think about insurance; We think, ‘it’s protecting me from a risk. I’m transferring that risk. ‘What our health insurance system has really become is a financier of that risk. They’re financing it. And really [it has become] what I like to call the largest legal Ponzi [Scheme] in the United States. It’s a system that allows Americans to continuously take all of their money, pour it into this system, and generate massive profits across the board.”
Seth further elaborates how the Affordable Care Act allowed health insurance companies to take over smaller insurance companies, consolidating access to health care and increasing prices. He claims that until we understand that the government need only monitor health care as a “referee,” American taxpayers will continue to bear the burden of health care costs of research and development.
Later, Seth denoted his views on the economy and took Mr. Biden and his minions to task for playing politics for way too long. Denson singled out Treasury Secretary Janet Yellen for her recent remarks of “‘we didn’t see it coming.’” Seth continued, “It’s your job to see it coming. I don’t think Janet Yellen is ignorant,” he said, “I think she’s a very intelligent person. So, either she’s past her prime and can no longer do [her job] because she’s lost her edge, or she’s lying. And I tend to think it’s probably the latter. They did see it coming. They just knew politically they couldn’t say that.”
Denson went on to offer Ms. Yellen and President Biden a piece of economic advice: reduce deficit spending. That means everybody’s got to start tightening their belt. “That’s not fun, especially in a political season, which it seems we’re never out of. Politicians don’t get reelected by not spending money. And then you’ve got to have a better energy policy.”
The soaring cost of gasoline is a major factor fueling inflation; it plays a critical role in the cost of virtually every commodity we need, including the food we eat. And so, it’s not such a good idea to rely on OPEC and other foreign sources of oil, in the best of times. Denson made the point that what’s worse is the fact that if the administration lifted its politically motivated restrictions on tapping our own plentiful domestic petroleum resources, we’d not only be able to supply fuel for our own needs, but we could be a net exporter of oil. “It could drive more economic value and, in my opinion, increase our economy, and secure our national security. But unfortunately, until the Biden administration sits down with these [domestic] energy producers and tells them to go for it, it won’t happen.”
In conclusion, Denson had this to say about American society in general. “We’ve lost a sense of civics in our country. And quite frankly, they’re not taught in our schools the way they should be. It’s one way or the other way. Quite frankly, the other way, which tends to be my way, is rarely taught in schools these days anymore, so that’s really challenging. And then we’ve lost personal responsibility. I mean, just recently the president was out talking about eliminating college debt. Well, that means you’re telling people that never went to college they’re going to pay for people that did or people that spent a lot of years paying off their college debt that, well, you were just too late to the party. There’s no personal responsibility and there’s reliance on the federal government to solve all our problems.” It’s time to pull out the safety net and take back these key principles of civility and self-responsibility for the sake of our country and its economy.