Tuesday, November 4, 2008
by Pete Kotz
on Tue, Nov 4, 2008 at 5:37 AM
somewhat weather resistant to crisis
The story points to our relatively stable housing, absence of industrial jobs, and a boatload of colleges, the last of which seems to be the one recurring motif in prosperous cities from Austin to Boston.
What the story doesn’t mention is our reliance on the health care industry. It’s easy to amass profits when insurers can jack rates 10-20 percent every year, while simultaneously slashing medicines or treatments deemed too expensive to cover. But no matter who wins the presidency today, they’re going to come gunning for health care reform.
Yeah, I hear you: We haven’t taken a serious shot at this since Clinton’s first term. And if Obama wins, there’s a good chance Democrats will weenie out, because that’s what they do. If McCain wins, we’ll likely stay the course, since there’s just too much campaign money coming in from Big Health.
But with the cost of health care strangling businesses and crushing consumer spending – it more than eats any raise you receive every year – something’s gotta give. And any real reform will have to take a bite from health insurers.
The Tennessean ran a rather sunny story on Sunday about the resilience of Nashville’s economy. According to Chamber of Commerce Chairman Ron Samuels, Middle Tennessee is