Healthcare costs threaten economy
Case Management Weekly, January 2, 2008
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According to the Congressional Budget Office (CBO), the predicted increase in healthcare costs, specifically Medicare and Medicaid's estimated 500% growth in spending over the next 75 years, could pose detrimental harm to the economy.
However, at a House Budget Committee hearing, CBO Director Peter Orszag indicated the possibility for reduced costs due to a comparison of the differences in healthcare costs in different areas of the nation. In addition, he said that the U.S. could significantly reduce healthcare spending by awarding financial incentives for facilities that provide better quality care.
According to CongressDaily, committee Democrats focused more on how to save the entitlement programs while Republicans expressed concerns about the tax increases that might be needed to reduce the serious federal debt.
Sources: California Healthline, CongressDaily
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