Services like water treatment, police, fire departments, and schools are supported by taxpayers dollars because it saves money in the private sector in the long run. Affordable government health insurance may also saves families thousands in expenses each year, giving them more money to spend in the general economy. Would this not be a way to help stimulate the economy?
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If you ignore the fact that currently over 15% of our GDP is in health care, sure. You are talking about spending less in the single largest segment of our economy. It would certainly help other sectors of the economy due to the lower cost of health care coverage for their employees but it would result in a reduction in jobs and pay levels throughout the health care industry. On balance, it would probably hurt the overall economy in the near and middle term. To understand this just consider that nearly one out of every five workers is in a health related field. In addition, it would sacrifice the one area where we still have a competitive advantage over other countries. We continue to export high tech health care. This is an advantage to our economy.
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