Healthcare Bill’s Passing Gives Government 17% Control Of US Economy

By Susan Thompson on March 11, 2010, 12:23 pm

With the March 18th deadline looming, Congressional leaders are wheeling and dealing to get the votes they need to push through the Healthcare reform bill and take control of 1/6 of the US economy.

Government Attempts To Seize 17% Of US Economy Via Healthcare Reform Bill

President Obama has set a March 18 deadline for a vote on the healthcare bill currently in Congress. The possible passage of such a bill has stirred an abundance of controversy and divided constituents against their Congressmen and Senators. One reason for the public’s distaste for the proposed healthcare reform is the weighty realization that, if the bill passes, it will give the government control of 17% of the US economy, about $2.5 trillion.

National Spending Rises

National spending on health care costs has been on the rise for the past few decades. However, each year the government is responsible for the more and more of that spending even without passage of current healthcare bill. In 2002 the United States Department of Health and Human Services reported that government spending accounted for 46% of all healthcare spending. This reflected a 5% increase from the previous decade. A report published last month by the Centers for Medicare and Medicaid Services (CMS) warned of increased government spending on healthcare. The CMS disclosed that rising unemployment and a vast number of aging baby boomers entering into Medicare would lead to public spending surpassing private spending on healthcare costs by 2012. Currently healthcare spending is estimated to be 17.3% but could rise to as much as 20% by 2018.

 

With over half the country against the passage of this bill, it seems that Americans are not enthusiastic about shifting control of 17% of the US economy to the government.

Related posts:

1. Healthcare Doctor Fix Going On Jobs Bill
2. Healthcare Bill Does Very Little To Hinder Health Insurance Companies
3. Polls Show 81% Of Americans Believe Healthcare Bill Will Cost More
4. Healthcare Reform Bill: Voters Wanting It Back On The Butcher Block
5. White House Obamacare Playing Games With Healthcare Cost Numbers