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Krugman writes: "The big revelation of this week has been how many political pundits have spent six years of the Obama administration opining furiously about the administration's signature policy without making the slightest effort to understand how it works."

Paul Krugman. (photo: NYT)
Paul Krugman. (photo: NYT)


The Structure of Obamacare

By Paul Krugman, The New York Times

19 November 14

 

he big revelation of this week has been how many political pundits have spent six years of the Obama administration opining furiously about the administration’s signature policy without making the slightest effort to understand how it works. They’re amazed and in denial at the suggestion that it has the same structure as Romneycare, which has been obvious and explicit all along; they are shocked, shocked to learn that it uses the mandate as an alternative to taxing and spending, which has always been completely obvious and open.

Let me expand on the second point, by referring to my own publicly available class notes from 2012. To explain Obamacare, I started with a schematic representation of how single-payer health care works:

Then I showed a schematic of ObamaRomneycare — it calls it that right on the slide — and showed that to a first approximation it delivered the same results, but with a much smaller amount of money flowing through the federal budget

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