CBO report on single-payer healthcare

The Daily Poster explains the new Congressional Budget Office report. It sounds just awful, right? Yeah, only to vampire health insurance companies that have bought off politicians, including Biden. Under a single-payer healthcare system:

• “Households’ health insurance premiums would be eliminated, and their out-of-pocket health care costs would decline… Administrative expenses in the health care sector would decline, freeing up productive resources for other sectors and ultimately increasing economy-wide productivity… Longevity and labor productivity would increase as people’s health outcomes improved.”
• “Workers would choose to work fewer hours, on average, despite higher wages because the reduction in health insurance premiums and (out-of-pocket) expenses would generate a positive wealth effect that allowed households to spend their time on activities other than paid work and maintain the same standard of living.”
• “That wealth effect would boost households’ disposable income, which they could then split between increased saving and nonhealth consumption. Although hours worked per capita would decline, the effect on GDP would be offset under most policy specifications by an increase in economy-wide productivity, an increase in the size of the labor force, an increase in the average worker’s labor productivity, and a rise in the capital stock.”
• “States could respond to the (ensuing) budget surplus by growing their rainy-day funds (at least temporarily), reducing state tax rates, increasing spending on government purchases or public services, or a combination of all three.”