Some Simple Mathematics!!
Fact One: In the U.S., we spent 20% of our GNP on Health care last year.
Fact Two: The share of the GNP we spend on healthcare has been growing 8% annually for over fifteen years.
So here is the simple math that comes out of those two facts.
Since we have some other expenses that cannot be escaped, i.e., interest on the national debt, et al., sometime later this decade, we go bankrupt. Never mind all the money that did not go into education, research and development, infrastructure repair, etc.
O.K., you can see the problem clearly now.
And here is a line from the Opinion section of March 23, 2012 issue of the Los Angeles Times.
"On Thursday, the House voted to eliminate one of the main cost controls in the 2010 law: The Independent Payments Advisory Board, whose purpose is to keep a lid on the growth of Medicare's budget."
So much for simple math!!