Newt Gingrich...on the challenges facing healthcare

[Live remarks from Newt Gingrich at an event at The Atlanta Press Club, sponsored by Presidential Financial and Presidential Healthcare Credit.  February 24, 2010]

"I look at the challenges facing healthcare as a triangle.  One of the sides of the triangle is competition with China and India, and this is a challenge that will last for the rest of our lives. 

The second [side of the triangle] is the increase in Science and Technology.  The effects of this increase are unknown.  One of the problems, is that we’re trying to come up with a solution based on the healthcare system of the 1970’s. 

The third [side of the triangle] is that government is the fourth bubble.  If information technology was the first bubble, and housing was the second bubble, and Wall Street was the third bubble…government is the fourth bubble.  Most western countries have adapted a level of government that they cannot afford.  Atlanta has adapted a level of government that it cannot afford.  The state of GA has adapted a level of government that it cannot afford.  California has a government that it cannot afford.  The United States as a nation has a government that it cannot afford. 

Going through the excruciating process, which every private business does every recession, of coming to grips with the fact that we’re going to have to fundamentally re-think, and in many cases, replace – not reform – failing systems, is going to be one of the great challenges of the next 15 to 20 years."