Friday, March 28, 2008

Runaway health care costs — we’re #1!

The latest Trustees’ reports from Social Security and Medicare show, once again, that there is no such thing as Socialsecuritymedicareandmedicaid. Social Security, the subject of thousands of demands that we get “serious” and cut benefits, is doing relatively well. The real problem lies in health care costs.

I am, of course, a big proponent of health care reform. But is there any reason to think that reform would curb the growth of costs?

Well, I was browsing some of the charts at CMS, and thought I’d share some information from Chart 2.1. This table shows health care spending as a percentage of GDP in some major countries, 35 years ago and recently:

Everybody knows that the US spends much more on health care than anyone else
What I didn’t realize was just how clearly the evidence shows that the rising trend is steepest in the US. We have the biggest increase as well as the highest level. We’re #1!
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