Entitlement spending projections

From The Incidental Economist this article about cost growth in Medicare and Social Security.

Federal spending and revenue projections as a percent of GDP: Alternative Fiscal Scenario (CBO)

It’s no different for state governments — health care costs eventually dominate.

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3 Responses to Entitlement spending projections

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  3. Jerbigge says:

    US healthcare is a monopoly protected by the government. There is no incentive to reduce costs because there is no legal competition to help hold down prices. The AMA was organized in 1847 to do for doctors what the unions do for workers. In 1938 the Medical Monopoly sucessfully got legislation passed in the form of prescription laws that gave doctors total control over the supply of medicine. From that time on doctors became the legal counterpart to street corner drug pushers.

    To reduce the cost of health care, either the government has to take control of medicine as has been done in the rest of the developed world, or take away from the Medical Monopoly its control over the supply of medicine. So we can either move in the direction the rest of the developed world has taken or we can create medical free enterprise and take away from the Medical Monopoly its control over medicine. In both cases we can expect the MM will be totally opposed to having its power cut. US health care currently is a parasite upon the population that sucks the lifeblood out of the American population for its own profit. It is time the people put a stop to it!