Congress and the nest presidential administration will have their hands tied dealing with the current economic crisis, which could very well force health care reforms to the back burner, as exchange traded funds (ETFs) cool off.
Both of the presidential nominees’ plans were proposed before the current conditions we face now, and compromises will likely be made at the expense of health care’s well-being, reports James Ritchie for Business Courier.
While we’re all thinking about the $700 billion bailout, though, it also happens to be how much Americans waste each year on unnecessary healthcare expenses, says Arthur Garson Jr. for the Christian Science Monitor. If we took steps to save that money, just $100 billion would cover the uninsured and $600 billion would be left to help Wall Street.
Current healthcare spending in the United States totals $2.1 trillion, up from $1.3 trillion in 2000 (not adjusted for inflation). An estimated third of that is just waste: needless doctor visits, pricey drugs and inefficient paper billing systems.
The size and scale of the crisis taking place within our economy takes the place of any other reform at the moment. But, does this matter when you are not healthy? When the health care problem is once again a priority, these ETFs could benefit:
- SPDR Pharmaceuticals (XPH), down 17.3% year-to-date (black line)
- PowerShares HealthCare Services (PTJ), down 35.7% year-to-date (green line)
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.