Myth 3. Americans are going bankrupt, and American companies are noncompetitive, because we don’t have “universal health care.”
For years, advocates of “single payer health care” have been warning that middle-class Americans are only “one serious illness away from bankruptcy”—even if they have insurance. Obama has claimed that medical costs cause a bankruptcy in America every 30 seconds. Divided We Fail claims that “millions” go bankrupt every year because of medical costs.