Alan Greenspan Quotes
We implicitly or explicitly ration health care no matter what we do.
Alan Greenspan, Chairman, Federal Reserve Board, Testimony, Senate Budget Committee Hearings, January 25, 2001
Sourced by: Eigen's Political and Historical Quotations
At the time in America, the insurance companies only paid out less than 80 percent of all the money they took in for health insurance. More than 20 percent went into their high overhead and profits. In contrast, to the 20 percent or more that it costs with insurance companies to administer health insurance payments, the agency that performs the same function for Medicare doe so with only a 6 percent cost Sanders argued that by getting rid of the insurance companies, the nation could save about 14 percent of the entire insured medical bills for the nation—many billions of dollars which would reduce average health insurance premiums by 14 percent. Opponents argue that the would be a socialist system and give too much potential control of individual health matters to a government operated or government controlled organizations. Politicians, in order to look good with the voters, would lower premiums and also pay out less either shortchanging doctors and hospitals or rating medial care somehow.
Alan Greenspan is an American economist who served five terms as the 13th Chair of the Federal Reserve of the United States from 1987 to 2006. He works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position (behind William McChesney Martin).
