After 43 days, the government shutdown has ended. Following President Donald Trump’s illegal and cruel cut-off of SNAP benefits for desperate Americans, including 16 million children, 42 million frightened people will now be able to put food on their tables once more. Federal employees will receive their pay, and hopefully, airline schedules will return to normal.
However, the repercussions extend beyond immediate relief as healthcare insurance premiums are expected to skyrocket. At a time when the United States already pays the highest prices globally for healthcare, insurance premiums for tens of millions will increase sharply, and 15 million will lose their coverage. As a result, studies indicate that 50,000 Americans will die unnecessarily every year. While the shutdown is over, the pain, suffering, and associated consequences begin.
These developments occur in an economy that is already perceived as being rigged. The rich are becoming richer while working families find it harder to survive. The political landscape appears to be polarized, with Senator Dick Durbin highlighting the Democratic efforts to protect healthcare, while Trump and other Republicans are accused of playing political games through the shutdown.
The good news includes the substantial gains experienced by the wealthiest individuals, such as Elon Musk, who has become $163 billion richer since Trump’s election. Elon Musk, who is on his way to becoming the first trillionaire, plans to build millions of robots, which could significantly impact job markets. Similarly, Jeff Bezos and Mark Zuckerberg are also benefiting immensely, highlighting the issue of income and wealth inequality in the U.S., as the richest 1% now own more wealth than the bottom 93%, with corporate profits soaring and CEOs receiving huge compensation packages.
For those not in the wealthy, the situation is increasingly challenging. Today, 60% of Americans live paycheck to paycheck, finding it increasingly difficult to afford housing, healthcare, childcare, education, or even groceries. Nearly half of older workers have no retirement savings, and a majority of young people are expected to experience a lower standard of living than their parents. In the wealthiest nation on Earth, the rates of senior and childhood poverty are among the highest in major countries, which is a cause for shame.
As the continuing resolution recently signed into law by President Trump comes into effect, the situation is poised to get much worse for the average American. Examples provided suggest that the average 60-year-old couple making around $85,000 a year will see their monthly insurance premiums quadruple, going from $602 to $2,647 — a jump of almost $24,500 annually. Out-of-pocket expenses will add to this burden, making it nearly impossible for many to afford such costs. Similarly, the average family of four making $44,000 a year will see their premiums triple, and the same applies to an individual earning $32,000 annually.
With the rationale of providing a $1 trillion tax break for the top 1%, millions will lose healthcare coverage, an outcome that is viewed critically by many. President Trump and some Republicans criticize the Affordable Care Act for not being an efficient way to provide healthcare. However, their proposed alternatives are seen as even more severe. Plans to eliminate the Affordable Care Act tax credits, which average $6,500, and provide checks to around 20 million Americans to purchase healthcare independently are deemed impractical. This approach could lead to more medical bankruptcies, higher healthcare costs, and many Americans going without necessary care.
Short-term solutions include extending the Affordable Care Act tax credits to prevent drastic premium hikes and rescinding the $1 trillion in cuts to Medicaid and the ACA. These actions are critical to prevent suffering and loss of life. Long-term, a serious discussion is needed regarding the kind of healthcare system the nation wants. Questions must be addressed, such as whether the U.S. should remain the only major country without universal healthcare, what can be learned from other countries with lower healthcare costs, and how to provide high-quality, cost-effective healthcare to all. Sanders advocates for expanding Medicare to cover all Americans, believing that this would be a morally and economically necessary step to address the current system’s shortcomings.