In March 2011, Avik Roy wrote about something that constituted, in his opinion, “simply put, the greatest scandal in America. Bigger than Madoff, bigger than the Wall Street bailout, bigger even than the plight of the uninsured.” The scandal was a study demonstrating that “despite the fact that we will soon spend more than $500 billion a year on Medicaid, Medicaid beneficiaries, on average, fared worse than those with no insurance at all.” (Emphasis in the original.)
Indeed, Medicaid does not tend to fare well when tested. But yesterday’s news was among the worst that proponents of expanded Medicaid and its larger ObamaCare policy disaster could have received. The New England Journal of Medicine reported the results of a study conducted by major health-policy scholars–including ObamaCare advisor Jonathan Gruber–further showing that Medicaid is an expensive bust. The conclusion from the study authors:
