Contributing to the increase in the number of uninsured was the rapidly escalating costs of healthcare from 1979 through 2002. Ironically, this was a a period of robust economic growth in our economy. Sure, there were recessions. But, the Dow Jones peaked in 1979 at 880. In 2002, it peaked at 10,635. And right now, after a 30% drop in the Dow, it rests around 8500. That's roughly 10-fold increase of wealth in our economy from 1979 to 2009 when we're experiencing the worst economic crisis since the Great Depression.
And yet, despite this 10-fold increase in economic growth...17 million Americans can no longer afford health insurance. That's an increase of 58%. 58% more Americans cannot afford health insurance during a time when our markets rose by over 10-fold.
Families USA reports that 86.7 million Americans went without health insurance for some or all of the two-year period from 2007 to 2008.
The AFL-CIO blog reports 2.5 million Americans have lost employee-sponsored health insurance since this recession began in december 2007.
Health Affairs estimates that 19.2 percent of all nonelderly Americans will be uninsured in 2010, an increase of 2.0 percentage points from 2007. The number of uninsured people is projected to increase by 6.9 million.
In 1979, there were 29 million uninsured while the DJIA peaked at 880.
In 2009, there are 47+ million uninsured and the DJIA rests around 8500.
In 2010, it's estimated there will be 53 - 54 million uninsured Americans. That's nearly double the number in 1979. Where will the DJIA peak?
Something's very wrong in a system that can create so much wealth but leave so many without access to affordable healthcare that makes meaningful these Certain inalienable rights....among these are life, liberty and the pursuit of happiness. No healthcare, no life. No life, no liberty.
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