Economists Views on Obama and McCain's Insurance Plans

The verdict is in for Senator Barack Obama and Senator John McCain's health insurance reform plan: Neither will work. Top economists reviewed each health insurance proposal and had matching conclusions that neither Democratic candidate Senator Obama nor Republican candidate Senator McCain's plan will do any good for Americans, reported the Associated Press and The Washington Times.

Senator McCain's reform plan allows Americans to purchase individual health insurance across state lines, which means 21 million able to have coverage. Economists also estimate that about 20 million workers will be cut out of employer based health insurance systems.

The critique says that the $2500-$5000 tax credits that McCain will provide will not offer savings because when the premiums increase and coverage is lowered, Americans won't be able to get ahead. Economists basically concluded that McCain's plan would not help reduce the uninsured Americans numbers.

Critiques did not have much better to say of Obama's plan. Obama's proposal will be costly to our government, resulting in quicker inflation.

It would also result in pay cuts or job loss. We are not experts, but the reports do seem a bit cynical.