[Guest post by DRJ]
Today President Obama said the costs of Medicare and Medicaid are increasing on an “unsustainable” trajectory.” Obama also said we must pass health care reform or “health care costs are going to consume the entire federal budget” and the U.S. will go bankrupt.
Medicare, Medicaid, and SCHIP accounted for $718 billion in health care costs in 2006 — “slightly more than one-third of the country’s total health care expenditures and almost three-fourths of all public spending on health care.” The federal government paid an additional $252 billion in publicly-funded health care for veterans, Indians, federal workers compensation, federally-sponsored womens’ and childrens’ programs, substance abuse programs, assistance to the states, and for public research.
It sounds like Obama’s answer to our bankrupt federal health care programs is to cover everyone. Won’t that make us go bankrupt that much faster?