The new health care bill has been the media topic lately. Discuss the possible economic outcomes of the bill pertaining to growth and productivity.
Much of the answer to this will lie in whether one is a proponent of the bill. The opposition to it would preclude many of the suppositions made in the answer. On one hand, the proponents of the bill argue that the bill will help to increase productivity by minimizing the waste in the industry. In streamlining information such as computerized patient records, waste is reduced and within this, productivity is increased. At the same time, the coverage offered to people who cannot afford health care coverage would enable them to use the money saved to reinvest into the economic system. The argument here is that this increases growth and will allow a greater sense of greater economic activity in a time of contraction. If people did not have to spend excessive money on exorbitant health care fees, the belief is that they would be able to spend money back into the economy.