6 thoughts on “Bloomberg: The Economic Myths Democrats Peddled at Debate

  1. I haven’t researched all the claims. But I have a few observations.

    Bankruptcy. WAPO took on that. The conclusion was 30-50,000 due to hospitalization. The larger amount of 500,000 included bankruptcies that included medical bills as a part, not differentiating small from major part.
    Of course we are almost alone among advanced nations with medical care as causing ANY bankruptcies.

    Profits. That is a slippery concept. There are a boatload of expenses, deductions and accounting “methods” that keep actual tax liable profits low in any given fiscal year. Of course the whole idea that our medical prices and subsequent costs are higher than the rest of the world is still the elephant in the room. Someone is making a ton of money.

    Opioids. The drug companies that made and distributed opioids for decades on the false premise of not being addictive if used for pain is the issue. Millions of pills distributed to tiny town pharmacies in Appalachia, for example. So the charge is real. True, we had heroin addicts before, but we have a lot more now and they shifted to heroin because prescription drugs were more expensive and now tougher to get. So the fine line about being responsible or contributing is kind of finicky. And why should these execs who were responsible be treated any differently than the illicit dealers and traffickers?

    Raises. 32% over 35 years is not exactly bragging material. That is around 1% over official inflation per year if so adjusted. But does not take in account healthcare and education, which are way above inflation.

    So, clarification for false figures is necessary. Fact checking should be non-partisan and mostly is. Maybe Trump’s “truthful hyperbole” should apply as a warning label.

    Liked by 1 person

    1. Most bankruptcies include some medical and DENTAL bills.

      Physicians and dentists tend to be careless about extending credit, and once people know they are so deep in a hole that bankruptcy is inevitable, they very often decide it’s a good time to get their teeth fixed since they know they will never pay for it.

      I’ve been told that bankruptcy lawyers even advise their clients to get any elective medical and dental care they have been neglecting taken care of before they file.

      I retired with enough bankruptcy releases in my desk to have bought another boat.

      Like

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