Forbes July 30, 2024
If a city council responded to a damaging string of structural fires by slashing the Fire Marshal’s budget, you’d think they’d lost their minds. But in Washington, DC, the House Appropriations Committee is pursuing a similar course of action rather than tackling rising healthcare costs.
A Fiscal Fire
America spends, on average, about twice as much per person on health as other large, wealthy nations, according to the Peterson KFF Health System Tracker. As a result, healthcare consumes a larger share of the federal budget than social security or national defense. On top of that, costs are growing at an alarming rate. In 2023, the U.S. spent $335 billion more on healthcare than it had the year before. Spending could...
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