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The idea is not as far fetched as you might think.
If you did have nationalized healthcare, cost cutting does become a national issue. Given that a disproportionate ammount of money is spent on end of life care which invariably only extends life for periods of days, weeks or months, it is not unlikely that deciding that certain people simply aren't worth the tax dollars isn't an unheard of line of thought.
That being said, such curtailing on publicly administered health plans in the U.S. most commonly come from the fiscaly conservative Republicans.
It is they who have ensured that if you are severly ill, and lose your job, you must wait two years before being allowed into the system created to care for the severly ill who lose their jobs.
So, in that, I can't say that Ms. Jackson makes a fair point. If we did have a single payer plan, there certainly would be people looking to kill grandmas. I'm just not sure that is Obama's motivation, but it could become a motivation for others down the line.
Truth be told, simply removing the two year waiting period for disability medical coverage, would likely solve our largest problem with the uninsured in this country, of course no one is even considering that in this debate.