"Moderate" opponents of health-care reform like to say that we cannot afford it, particularly in the midst of a recession that has widened the deficit with both reduced tax revenue and the fiscal stimulus package. This was the argument advanced by Sen. Joe Lieberman on TV a week ago and repeated by Michael Gerson in this newspaper: "Obama's massive spending, intended to stabilize the economy, also drained the Treasury, making it more difficult to propose major new expenditures."
But what does this mean?
The major cost of reform, generally estimated at about $1 trillion over 10 years, is subsidies to help poor and middle-class people buy health insurance. (The subsidies phase out at 300 to 400 percent of the poverty level, depending on the proposal.) There are two ways to look at whether we can afford this. Read More
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