Let Customers Control The Money And Market Will Cure Health Care | Michael F. Cannon | Cato Institute: Commentary

Let Customers Control The Money And Market Will Cure Health Care | Michael F. Cannon | Cato Institute: Commentary: "Experts suggest that one-third of U.S. health care spending, or about 6% of GDP, is pure waste. The reason is simple: Government controls half of our nation's health care dollars, and lets employers control an additional quarter. And nobody spends other people's money as carefully as they spend their own.

Office of Management and Budget director Peter Orszag told Congress last year: 'Imagine what the world would be like if workers (understood) that today it was costing them $10,000 a year in take-home-pay for their employer-sponsored insurance, and that could be $7,000 and they could have $3,000 more in their pockets today if we could relieve these inefficiencies out of the health system.' Nothing will increase consumers' understanding like giving them that $10,000 directly."