Random Ramblings About United States Bankrupt

Feb 25th, 2014 | By | Category: Debt

Fox News is nothing other than pure diatribe, twisted reporting to spin a story to their own narration. Essentially, they will take something and make it fit the point they’re trying to make. I will see some distorted reporting about the Canadian health care system where some Fox reporter managed to find one Canadian out of 30 million, to say that Canada’s health care does not work. They also do the same thing in attacking the UK system. It simply is not hard to find someone somewhere who does not agree with something. It fits their narrative perfectly. Well, it simply is not true.

The study also cited that a majority of the people looking for court protection from creditors had health insurance, with more than three-quarters reporting they had coverage in the early part of the health catastrophe that triggered their bankruptcy. The study also reveals that 38 percent of the participants had temporarily lost coverage by the time bankruptcy was filed, with catastrophic sickness or injury frequently leading to both job and insurance loss.

This will probably come as a vast surprise to most Americans. Canadians live longer. The infant mortality rate in Canada is lower than the United States. Therefore, you get a better chance at life, and you live a longer one. It’s a fact. Canadians live on average 3-4 years longer than Americans. Americans average lifespan is 77 years. For Canadians it’s 81. In fact, the United States is currently 35 in the world in the area of life expectancy. Countries that are ahead include Puerto Rico, Finland, Malta, Greece, Singapore and even the small nation of Andorra.

The average professional athlete in the United States makes more money in one season than the average American does in a lifetime. Despite this, the pros are going bankrupt at an alarming rate. The following infographic explores the reasons why so many of our sports stars are going from stoked to broke. This story was originally published by Mint. This post originally appeared at Mint. Copyright 2014.


Canada has a market driven economy. However, they do not believe people should go bankrupt because they cannot pay their medical bills.

It’s quite an expansive topic

Americans like to look at Canada as a purely socialist country. They claim that because Canada has health care coverage for all, that it is a socialist doctrine. However, in the United States, between 700, 000.00 To 1000, 000.00 Americans go bankrupt every year because they cannot pay their medical bills. That’s right, seven hundred thousand to 1 million Americans have to declare bankruptcy because they cannot afford to pay medical bills. That’s just sad! Is this what it is to have a market economy? One where people have to declare bankruptcy, or stay at a job that does not pay well, simply because it provides insurance. The fact is, Canada’s economy is market driven. Canada is also the largest trading partner to the United States. When looked at closely, there is a lot more opportunity in Canada in terms of career advancement, as Canadians are not burdened by a system that forces them to stay in a low paying job simply becuase of the insurance that’s provided. Canadians simply do not believe that health care should fall in the same market conditions as it has done in the US. Nobody in Canada declares bankruptcy because they cannot pay their bills. More disposable income means more spending. Perhaps this is why the economy in Canada has done better than its cousins to the south over the last two years and certainly during this most recent economic crisis.

Canada spends about 5% of its GDP on health care versus 16% for the United States. To give you some perspective, Canadians spend on average about $3, 500.00 On on health care, compared to $7, 000.00 For the average American. Not only does Canada have a lower child mortality rate, but they live on average 4 years longer and spend half as much on services as the average American does.

The ratio of doctors in Canada is 1 for every 200 Canadians. The ratio is 1 for every 450 Americans.

United States Bankrupt Conundrum

Not only do Canadians have a better start, but they have more doctors and family physicians that practice preventative care. They do not have people who wait till the last minute and then decide to go the hospital when it’s got to its worst point-as they have done in the United States. The wait times for doctor appointments is short as well, as even those that do not have family physicians have a range of options to choose from.

This is one of Fox Fear News greatest tactic. They typically get some southern Republican congressman or Senator to claim how the United States simply cannot afford to get a system like Canada’s where people have to wait forever in emergencies. Here’s the truth. If you have a genuine emergency, like getting hit by a car or some other form of near death experience, they do not just get you a number and tell you you will be lucky to see a doctor before you die. They take care of you immediately. I know this because my father’s been to the emergency room of Canadian hospitals several times on account of his asthma. The treatment he received was fantastic. He credits them with saving his life on more than 1 occasion.

If there is one issue with the Canadian system, it’s abuse. Because it is seen as being free, our hospitals and clinics are always full of people. You could go into any hospital or clinic any day of the week, and any time of the day, and you would see it full of people. You would be convinced we’re the sickest nation on the planet. Why are there so many people? The answer is simple, because it’s free. It’s true that people wait forever in emergencies of Canadian Hospitals. These people typically have the common cold or ingrown toenail. Is it an emergency when the individual who is waiting to consult a doctor is either asleep on some chairs, or is sitting down with a cup of coffee reading the paper? Obviously this is nowhere near serious.

There is now a public and private system. You can go anywhere you’d like for service, as of 2005. I have used both, and can verify that you can get both a public and private system work together. While we are required to pay taxes to be paid for our health care, we do not have to use our after tax income to meet the majority of our insurance. Hearing that Americans have to spend anywhere between $500.00 To $1200.00 Of after tax income on health insurance for their family is absolutely absurd. Consider this for a while, that $500 to $1200 that’s spent by American families on insurance is money Canadians do not spent on something other than beer and heating oil.

Of course, if it was anywhere near as bad as some interest groups in the United States would have you believe, there would be thousands of Canadians dying to get across into the United States. However, they’ren’t. This might tell you something. They have it fairly good. In fact, good enough to not even be bothered with trying. Unfortunately, health insurance is big business in the United States, and with such special interest groups, there seems little opportunity to really get all the facts submitted in an unbiased fashion. Everyone is pushing their own agenda with so much at stake.

It’s sad to look at how easily mislead people can be. The fact is, while Canadians pay for their health care, they paid for it out of their taxes-not after tax income, and it is nowhere near as high as the United States. Canadians have a better start, more doctors, live longer and have more choice. In the United States, your insurance companies decide where you go. In Canada, the consumer decides where to go. They can use either public or private systems. Canadians are not forced to remain in a dead end job because it is the only place that will insure them or are afraid to go elsewhere as a result of the lag where the insurance wouldn’t be available. Our system is indeed a market driven economy, in contrast to the limited opportunities in the United States. My father has since moved back to the United States, and travels back and forth from time to time. Guess what he does to avoid paying too much. If he can, he waits until his next trip to Canada to see a doctor or get medication. Maybe because it’s cheaper, or maybe it was because he is glad to be alive and trusts his Canadian doctor more. Imagine that, an American that prefers Canadian Health Insurance. He’s not the only one.

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