Alarmingly Healthcare costs Jump in US
US-HEALTH

The government estimated today that health care used a record 17.3% ($2.5 trillion) of all spending in the U. S. economy last year, in a bare token of growing costs. As a share of the nation's gross domestic product, this was the largest one-year leap in health care spending.

CMS estimated in the current report that government spending on health care would not surpass private spending until 2016, compared to 2011 or 2012. Health experts and President Barack Obama stated that even if overall health spending continues to increase, reshaping the health care system would make it more proficient.

"The health system is hurting, and we are seeing that in these numbers", said Karen Davis, President of the Commonwealth Fund.

According to this report, nation's gross domestic product declined in 2009, health care spending rose to an estimated $2.5 trillion. That number is anticipated to grow to $4.5 trillion in 2019 which is the entire economic output of the USA. Christopher Truffer, an author of the report said, "This is certainly a very steep rate of growth".

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