Health Costs to Double by 2020
Remember all those Democrats who said they voted for ObamaCare because it would reduce both cost of health care and the national deficit? Evidence continues to pour in confirming that those Democrats were played for fools. The latest shot across the bow comes from one of the governments own departments; the Medicare Office of the Actuary.
As reported in Kaiser Health News, the Actuary estimates "that health spending will grow by an average of 5.8 percent a year through 2020, compared to 5.7 percent without health overhaul." The Actuary further estimates spending on health care spending in 2020 will total $4.6 trillion, nearly twice the total of last year.
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Sanjai Bhagat is Professor of Finance at the University of Colorado at Boulder. He has worked previously at the U.S. Securities and Exchange Commission, Princeton University, and University of Chicago. He has an MBA from the University of Rochester and a Ph.D. from the University of Washington.