Read WSJ - We Do Not Spend Enough on Health Care  and write a 1 page analysis, based on what you currently know about the health care industry. Follow this format - 1.  The paper should be 1 page, double spaced, Arial 11 font, 1 inch margins. 2.  Begin the paper with a BRIEF summary of the article - about 1/4 of the content. 3.  The rest of the paper should be your analysis of the author's point of view - 3/4 of the content. 4.  Address these issues - Should we be concerned that health care is 15%+ of the US GDP?  Explain. What impact has today's health care system had on the health status of most Americans?  Substantiate. Find out who Jack Benny was, & say how you would answer his question. note: i am supporting the writer opinoion on time only one page answer the qustions follow the instructions the wall street journal OPINION AUGUST 17, 2009 We Don't Spend Enough on Health Care By Craig S. Karpel Americans are being urged to worry about the nation spending 17% of its gross domestic product each year on health care—a higher percentage than any other country. Addressing the American Medical Association in June, Barack Obama said, “Make no mistake: The cost of our health care is a threat to our economy.” But the president is mistaken. Japan spends 8% of its GDP on health care—the same as Zimbabwe. South Korea and Haiti both spend 6%. Monaco spends 5%, which is what Afghanistan spends. Do all of these countries have economies that are less “threatened” than that of the U.S.? No. So there must be other factors that affect the health of a nation's economy. Mr. Obama has said that "the cost of health care has weighed down our economy." No one thinks the 20% of our GDP that's attributable to manufacturing is weighing down the economy, because it's intuitively clear that one person's expenditure on widgets is another person's income. But the same is true of the health-care industry. The $2.4 trillion Americans spend each year for health care doesn't go up in smoke. It's paid to other Americans. The basic material needs of human beings are food, clothing and shelter. The desire for food and clothing drove hunter-gatherer economies and, subsequently, agricultural economies, for millennia. The Industrial Revolution was driven by the desire for clothing. Thus Richard Arkwright's water frame, James Hargreaves's spinning jenny, Samuel Crompton's spinning mule, Eli Whitney's cotton gin and Elias Howe's sewing machine. Though it hasn't been widely realized, the desire for shelter was a major driver of the U.S. economy during the second half of the 20th century and the first several years of the 21st. About one-third of the new jobs created during the latter period were directly or indirectly related to housing, as the stupendous ripple effect of the bursting housing bubble should make painfully obvious. Once these material needs are ...

1. Read
WSJ - We Do Not Spend Enough on Health Care
and write a 1 page analysis, based on what you currently know
about the health care industry.
Follow this format -
1. The paper should be 1 page, double spaced, Arial 11 font, 1
inch margins.
2. Begin the paper with a BRIEF summary of the article - about
1/4 of the content.
3. The rest of the paper should be your analysis of the author's
point of view - 3/4 of the content.
4. Address these issues -
Should we be concerned that health care is 15%+ of the US
GDP? Explain.
What impact has today's health care system had on the health
status of most Americans? Substantiate.
Find out who Jack Benny was, & say how you would answer his
question.
note:

2. i am supporting the writer opinoion
on time
only one page
answer the qustions
follow the instructions
the wall street journal
OPINION
AUGUST 17, 2009
We Don't Spend Enough on Health Care

3. By Craig S. Karpel
Americans are being urged to worry about the nation spending
17% of its gross domestic
product each year on health care—a higher percentage than any
other country. Addressing the
American Medical Association in June, Barack Obama said,
“Make no mistake: The cost of our
health care is a threat to our economy.” But the president is
mistaken. Japan spends 8% of its
GDP on health care—the same as Zimbabwe. South Korea and
Haiti both spend 6%. Monaco

4. spends 5%, which is what Afghanistan spends. Do all of these
countries have economies that
are less “threatened” than that of the U.S.?
No. So there must be other factors that affect the health of a
nation's economy.
Mr. Obama has said that "the cost of health care has weighed
down our economy." No one
thinks the 20% of our GDP that's attributable to manufacturing
is weighing down the economy,
because it's intuitively clear that one person's expenditure on
widgets is another person's
income. But the same is true of the health-care industry. The
$2.4 trillion Americans spend each
year for health care doesn't go up in smoke. It's paid to other

5. Americans.
The basic material needs of human beings are food, clothing and
shelter. The desire for food
and clothing drove hunter-gatherer economies and,
subsequently, agricultural economies, for
millennia. The Industrial Revolution was driven by the desire
for clothing. Thus Richard
Arkwright's water frame, James Hargreaves's spinning jenny,
Samuel Crompton's spinning
mule, Eli Whitney's cotton gin and Elias Howe's sewing
machine.
Though it hasn't been widely realized, the desire for shelter was
a major driver of the U.S.
economy during the second half of the 20th century and the first
several years of the 21st.

6. About one-third of the new jobs created during the latter period
were directly or indirectly related
to housing, as the stupendous ripple effect of the bursting
housing bubble should make painfully
obvious.
Once these material needs are substantially met, desire for
health care—without which there
can be no enjoyment of food, clothing or shelter—becomes a
significant, perhaps a principal,
driver of the economy.
A little-noticed feature of the current recession is the role of the
health-care industry as a

7. resilient driver of the general economy. Health-care now
accounts for 10.4% of nonfarm
employment. Health-care employment grew by 19,600 jobs in
July 2009, on a par with the
average monthly gain for the first half of 2009, which was down
from an average monthly
increase of 30,000 in 2008. Remarkably, these gains occurred in
a period during which total
employment shrank by 6.7 million.
The U.S. health-care economy should be viewed not as a burden
but as an engine of growth.
Medical and orthopedic equipment exports increased by 65.1%
from 2004 through 2008.
Pharmaceutical exports were up 74.6%. The unprecedented
advances expected to come out of

8. American stem cell, nanotechnology and human genome
research—which other countries'
constricted health sectors cannot support—will send these
already impressive figures skyward.
A study by Deloitte LLP has found that more than 400,000 non-
U.S. residents obtained medical
care in the U.S. in 2008, and it forecasts an annual increase of
3%. Some 3.5% of inpatient
procedures at U.S. hospitals were performed on international
patients, many of them escaping
from Canada's supposedly superior health system.
"Inbound medical tourism," Deloitte stated, "is primarily driven
by the search for high-quality

9. care without extensive waiting periods. Foreign patients are
willing to pay more for care within
the United States if these two factors play a large role." The
deficiencies of the foreign healthcare
systems the Obama administration wishes to emulate can be
counted on to generate everincreasing
revenues for U.S. providers and employment for Americans.
In a 2007 study, Stanford University economists Robert E. Hall
(who will take office next year as
president of the American Economic Association) and Charles I.
Jones reported that modeling
they've conducted has found that mid-21st century U.S. health-
care expenditures would
optimally amount to 30% of GDP or more. They wrote:

10. "We examine the allocation of resources that maximizes social
welfare in our model. We
abstract from the complicated institutions that shape spending
in the United States and ask a
more basic question: from a social welfare standpoint, how
much should the nation spend on
health care, and what is the time path of optimal health
spending? . . .
"Viewed from every angle, our results support the proposition
that both historical and future
increases in the health spending share are desirable. . . . [W]e
believe it likely that maximizing
social welfare in the United States will require the development
of institutions that are consistent

11. with spending 30 percent or more of GDP on health by the
middle of the century."
The administration's health-care plan is biased toward bean-
counting rather than designed to
maximize American physical and mental well-being. We need to
ask ourselves whether there is
truly anything more valuable to us than our loved ones and our
own health and longevity.
In the signature radio sketch of Jack Benny, whose performing
persona was laughably frugal,
actor Eddie Marr snarled at him, "Don't make a move—this is a
stickup. Now, come on: Your
money or your life." Benny didn't respond. The "robber" said,
"Look, bud—I said your money or

12. your life!" Whereupon Benny shot back, "I'm thinking it over!"
Confronted for the first time in history with a constant stream
of medical innovations that are
marvelously effective but tend to be very expensive, our
legislative representatives—in
particular, the Blue Dog Democrats—would do well to stop
"thinking it over" and to commit
themselves to action that will preserve the ability of Americans
to choose life over money.
—Mr. Karpel is the author of "The Retirement Myth"
(HarperCollins, 1995).