It took me a couple of hours to read all of this thread including the sources, but now I'm up to date.
I reckon both systems can work quite good in good economy times, both can suffer in depression times. But in the more socialized version still all people are covered.
In the private system during a crisis it's a fact that less people are covered due they simply can't find a job. Many of the US-guys here can't imagine that, but in Europe we face a situation, where growth is limited due to lack of new land, resources etc. and there simply AREN'T ENOUGH JOBS FOR EVERYONE.
The US will face this part of the problem in the next years due to the recent crisis. You can put it as you want and keep telling, hey everyone can make it on is own, but there will be always people who simply can't because they're not smart enough or anything else you can think of. You can't argue this, because obviously most of you guys are benefiting because of this. As well your extreme system will just work, as long as enough immigrants come in and do the poor jobs and hope that they'll make it as well. Good old Bavarian-German saying: Economy needs idiots.
Private funding won't work as well. Who is giving his money to organisations, when he just lost half of his fortune due to the crisis. I've already read that the private organisations suffer from the crisis.
So the main problems as with all the discussions in this thread and others are:
1. Who do you trust more? Government or Companies
2. What happens with the people not able to provide their living for themselves or simply to lazy?
2.1. Would you leave the people who are simply not able behind or not?
2.2. What do you want to do to let the lazy not take advantage of the system?
So most Europeans here would basically answer this:
1. Government (not really but who else should we and at least they brought us some good education to question them)
2. We should help them in some way
2.1. No we don't want to, because we could still end up like one, if we're 50 and our companies shut down
2.2. Try to make the system as effective as possible and start to put some pressure on the lazy ones
Most Americans would answer:
1. The Free market (ignoring the opening posting which compares government vs. companies, not realizing that both are part of the free market in the Western world)
2. Let them help themselves
2.1. Private organisations will do that.
2.2. WHO???? / F... them!
Always glad for more input from you guys 
