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WHY AMERICA CAN AFFORD UNRATIONED HEALTH CARE.(Brief article)
On February 21, 2007, the National Health Statistics Group of the federal government's Center for Medicare and Medicaid Services released a report projecting that by 2016 health care spending will account for about 20% of the economy, and noting that in 2006 it totaled about 16 %.
Predictably, voices of doom reacted with the claim that this rate of growth is unsustainable. Karen Davis, President of the Common-wealth Fund, said, "The cost problem isn't solved. ... Now, when you look at these numbers, you realize we have to get serious about trans-forming the health-care system."
Understandable as this widespread view is, the conventional wisdom is wrong. The problem with looking at the resources we devote to health care in isolation is that it misses the fact both that our economy is constantly growing and that due to productivity increases we need to devote fewer resources to other necessities ...
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Source: HighBeam Research, WHY AMERICA CAN AFFORD UNRATIONED HEALTH CARE.(Brief article)