What if I could turn back time and elect you as president of the United States. The date is now September 7, 2004, and you have been able to keep all your present day knowledge.
Question: will you do something to stop the zero-down, no income verification real estate loans? Or will you just let things run their course?
You know these loans are bad and you have the power to stop the practice of issuing them. Are you brave enough to use your power, knowing that by doing so, you will help avert the greatest fiscal crises in the history of the United States?
Or, will you back down, and cave in to the pressure of the media, or the powerful real estate lobbies? After all, you know that these loans are highly popular. Conservatives will argue for their use, stating that an unregulated loan industry should be allowed to police itself. What about the man on the street? Won't concerned citizens looking to purchase homes protest your decision? You'll probably be considered the most unpopular president in history. But you have seen the future and you know that it's the right thing to do - even though the decision will be considered uncomfortable and unpopular.
I feel a similar thing is happening with health care. The same market force - "baby boomer demand" that fed the past feeding frenzy for real estate - and helping to escalate home prices-- will soon be ratcheting up the costs for health services.
The writing is on the wall. As of 2006, there were 67 million baby boomers. That was three years ago, and these folks aren't getting any younger! The greater the demand for any product or service, the higher the price for that product or service: that's basic economics.
Fast forward to today. September 7, 2009. If you were president now and could affect lowering the costs of health care for millions of people, what would you do? If you say "nothing" that's the comfortable position. Take the "ostrich approach" and do nothing. Just hope that everything will work out okay and you'll be reelected. Or maybe wait until everything really gets bad, then try to bail it out!
Or do the uncomfortable thing. The unpopular thing. Work on meaningful reform. Swim against the current of negative media hype, conservative spin doctors, health care lobbyists, and concerned citizens.
I believe that its time to do something. What about you?
Comments(0)