Forbes March 4, 2024
America has a spending problem.
Last month, the Congressional Budget Office reported that debt held by the public will exceed the entire economic output of the country next year. Within ten years, the debt will reach 116% of GDP—”an amount greater than at any point in the nation’s history,” as the CBO put it.
Remarking on these figures, Paragon Health Institute president Brian Blase noted that, aside from interest payments on the debt, “rising deficits and debt are largely the result of the growth in federal health-care programs.”
Consequently, any effort to rein in federal spending—and save the country from fiscal ruin—must focus on federal health spending. Fortunately, there are plenty of ways to do so with minimal disruption.
It’s...
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