Wayne Winegarden

Painting the roses red; And many a tear we shed; Because we know; They'll cease to grow; In fact, they'll soon be dead; And yet we go ahead…

 [Alice:] Oh, pardon me; But mister three; Why must you paint them red?

Well, the fact is, miss; We planted the white roses by mistake; And...

The queen; She likes them red; If she saw white instead; She'd raise a fuss; And each of us would quickly lose his head; Since this is the thought we dread; We're painting the roses red…

Just like Alice, we are skipping our way through a Wonderland where up is down, back is front, and fact is fiction. This story will only end when, like Alice, we wake up to reality. 

The latest stop on our tour of Wonderland is the debate over health care reform.  President Obama has correctly identified that Americans spend a great deal more on health care than any other developed nation.  According to the Administration’s website, the U.S. spent over “$2.2 trillion on health care in 2007, or $7,421 per person – nearly twice the average of other developed nations”. 

But, if Americans are spending too much for health care as the Administration contends, why does the President’s health care reform set aside an additional $634 billion over 10 years, over half of which will come from tax increases?  Apparently, as the Cheshire Cat might say, the new Wonderland logic means that you lower costs by spending more.      

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Wayne Winegarden

Wayne H. Winegarden Ph.D. is a partner in the firm Arduin, Laffer & Moore Econometrics.

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