The Unhealthy Public Option — Steve Chapman

If Medicare were a bank, federal regulators would be closing its doors, selling its operations, and sacking its managers. Thanks to soaring costs, the program is fast running out of money-even though it pays such low fees that many doctors refuse to take Medicare patients. Meanwhile, Medicare fraud costs taxpayers some $60 billion a year, according to a report by CBS’s 60 Minutes. That’s our experience with government-run health insurance for the elderly, and congressional leaders now propose offering it to everyone else.

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