US Government Healthcare Spending Will Eat Up 20% of GDP by 2017
MedicalNewsToday.com reports that the Office of Actuary in the Centers for Medicare and Medicaid Services (CMS) has released a new analysis on government spending on national health.
It shows that the US government will be using 20% of its GDP (around one fifth) in healthcare spending alone by 2017.
Presently, government spending on national health is steadily increasing and the trend is expected to continue in the years ahead. If the report by the CMS materializes, it will surely outpace economic growth and inflation.
I will have to agree that this is good news for Americans as health care remains a number one priority in every sector of the population, regardless of age groups and finances.
Tags: CMS, health care spending, US government