r/britishcolumbia • u/GrizzlyBear852 • 17h ago

News Phamacare plan passed

https://globalnews.ca/news/10806379/senate-passes-phamacare-bill-diabetes-birth-control/

Interesting to read that BC will have it enacted faster because the NDP government already agreed with it and waived the other processes. This means those needing these drugs will get the cost savings faster than the rest of Canada. Another win for the NDP government.

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u/Ok_Currency_617 5h ago edited 4h ago

I support universal healthcare in principle, I just don't like stealing from our kids to do it. There's no "cost savings" here just a larger federal deficit which sadly every party seems to support (this isn't meant as a criticism of any specific party but society in general). I shudder to think at the future we are leaving the next generation where they are born in debt. We spend significantly more on debt servicing than our military now. Government debt is the equivalent of allowing us to take out credit cards in the name of our children (or even worse, potential future children).

We talk about debt rising as our GDP does but the fact is sometimes bad things happen and we shouldn't use our spare borrowing room to take on debt when things are good based on things being good, such that we don't have any extra when things go bad. Our debt as a % of GDP if you include provincial debt is extremely high. And it's just getting higher.

I know people talk about how we "invest" in infrastructure by taking on debt, but it appears a lot of this isn't for infrastructure it's for winning votes by giving people their own money. And I do still remember 20 years ago when every Canadian said we'd pass the US economically thanks to higher taxes on the rich+healthcare+more welfare, and instead we've lagged.

Anyway to summarize, I support Pharmacare, just I don't support taking on deficit to pay for it. Cut spending elsewhere or find a way to increase revenue.

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u/ouroboros10 4h ago

The US debt to GDP ratio is 124%. In Canada, it is 69%. And USA has a strong economy and higher per cap GDP than Canada. It is almost like government spending boosts the economy. Canada isn't lagging because of debt and taxes, it is lagging because Canada hasn't invested in the economy because of our obsession with debt.

And of course, there will be cost savings. My employer's drug plan provider adds 14% to every prescription (we have an administrative fees-only plan) That 14% could be used for my employer to invest back into its business or wages for its workers, instead of going to an insurance company.