November 24, 2009
May As Well Buy a Boat
I'm aware that not all ThreeSourcers share my appreciation of Megan McArdle. But she has written a gem that demands linkage. McArdle is unimpressed with the argument that we may as well do ObamaCare. because Medicare is going to bankrupt us anyway:
Anyone who has dated a manic-depressive has heard some version of this argument. "I can barely make ends meet now, so I might as well use my tax refund check to buy a boat! After all, if I can't figure out a way to fix my budget, I'm going to go bankrupt anyway."
The premise is fun. The serious treatment she gives to an American bankruptcy is a bit disturbing in its casualness.
Professor Reynolds suggested reading the whole thing. Do what you want.