July 23, 2009

Orszag; Mayo's Cortese:"price controls...a catastrophe"

Charlie Rose offered quite a program last night.

Peter Orszag, Director of Office of Management and Budget:

Denis Cortese, President and CEO of Mayo Clinic

One highlight from Cortese (starting around 6 to 6.5 minutes):

"...depends on what we mean by the "Public Option." If we mean a Medicare-type option that has price-controls and is fee-for-service, that would be a catastrophe.

We've seen it already in Medicare...its had price-controls under its control since 1983. And with price-controls what have we seen? People just do more. The rate of growth of spending has just gone up."


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