Monday, June 27, 2011

Event Reminder! Policy Briefing Wed., June 29: 'An Unsustainable Path'

Please join us for a special policy briefing this week!

Medicaid is on an unsustainable path towards fiscal disaster, putting Kentucky's most vulnerable citizens at risk.

Today, 2 out of 3 children on Medicaid are denied appointments with specialists, compared to only 1 in 10 privately-insured children. Without essential, sweeping reform, Medicaid will continue wasting Kentucky’s resources on a grossly overexpanded enrollee base while failing in its fundamental mission of providing access to health care for the truly impoverished.

These findings are highlighted in a new report by the Bluegrass Institute, entitled “An Unsustainable Path: The Past and Future of Kentucky Medicaid Spending.” The report will be released at a policy briefing this Wednesday, June 29, at 12:30 p.m. in Room 248 of the University of Kentucky’s Carol Gatton Business and Economics Building.

“I think the evidence suggests it’s time to turn to more fundamental reforms instead of piecemeal fixes,” said the report’s author, John Garen, Ph.D., Gatton Endowed Professor of Economics at the University of Kentucky and a Bluegrass Institute adjunct scholar.

Co-sponsored by the Bluegrass Institute and the BB&T Learning Laboratory on Capitalism, the policy briefing is free and open to the public.

All media inquiries should be directed to Jim Waters, Vice President of Policy and Communication, at

1 comment:

Hempy said...

A more capitalistic solution would be to fix the problem that got us into this Great Recession in the first place. It was the abuses, excesses and criminal activities of the participants of the unregulated and untaxed OTC derivatives market. That’s about a $600 trillion-a-year market. Were a proportional rate tax in effect that maxed out at 5% that would bring in about $30 trillion to the treasury.

Both Adam Smith and Alexander Hamilton advocated such measures.

In “Wealth of Nations” Smith wrote:

“What are the different methods in which the whole society may be made to contribute towards defraying the expenses incumbent on the whole society?”

The whole society needs to be made to contribute towards defraying the expenses incumbent on the whole society. Your UK economics professor, John Garen, apparently hasn’t yet read Adam Smith’s “Wealth of Nations.”

Add to that $600-trillion-a-year domestic derivatives market the $4-trillion-a-day foreign exchange derivatives market, and you’re talking money into the quadrillions. And let’s not forget the minuscule $1.5 trillion in bank laundered drug money. With this kind of money Medicare, Medicaid, the Affordable Care Act and Social Security could be fully funded.

According to Adam Smith’s capitalism, they must be made to contribute towards defraying the expenses incumbent on the whole society.”

Smith’s ethics are based on the Abrahamic covenant. That is, it’s in our mutual interest to work for the good of all.

Your atheistic philosopher, Ayn Rand, rejects such ideas, as does Paul Ryan with his Contract on America, Rush Limbaugh and Rand Paul.

Your patron saint, Milton Friedman said, “I would like to be a zero-government libertarian, [but] I don’t think it’s a feasible social structure. I look over history, and outside of perhaps Iceland, where else can you find any historical example of that kind of a system developing?”

What a stinging repudiation of your high priestess, Ayn Rand and your Sacred Scripture, “Atlas Shrugged”!