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Getting the Government Out of Healthcare
Jan 3, 2025
Michael F. Cannon, director of health policy studies at the Cato Institute, shares insightful perspectives on government involvement in healthcare. He explores the origins of medical licensing, arguing it creates monopolies that elevate costs and limit access. Cannon discusses the historical roots of tax breaks for employer-sponsored insurance, emphasizing how these distort markets. The conversation also highlights the impact of FDA regulations on drug safety, and the potential of market innovations like telehealth to improve care accessibility.
59:39
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Quick takeaways
- Government intervention in healthcare contributes to escalating federal debt by complicating costs rather than alleviating fiscal challenges.
- Licensing laws, originally intended to improve care quality, have created monopolies that increase costs and limit access, especially for marginalized groups.
Deep dives
The Burden of Federal Debt and Healthcare
The discussion highlights the projection that by 2025, American conversations will center around spending, deficits, tax reforms, and the federal debt burden, which is closely tied to government involvement in healthcare. It is argued that the long-term federal debt issue is rooted in the escalating costs associated with governmental healthcare programs. This scenario is reinforced by Michael Cannon's assertion that the government’s role in healthcare exacerbates fiscal challenges rather than alleviating them. By withdrawing government intervention, the expectation is that healthcare costs could be lowered, thereby easing the pressing burden on federal finances.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode