Old Rocks
Diamond Member
Exceeding 100% of GDP is an impossibility, by definition, 100% is the maximum possible.There is no argument that a good portion of the increases in healthcare spending are due to new innovations and technologies that have helped extend the lives of most people. The problem is that the rate of increase is unsustainable financially. Based on the rate of growth over the last twenty years, if we continue at that same rate, we will eventually spend more than 100% of GDP on healthcare.
There is a limit as to how much a society can spend on healthcare, and we are reaching the breaking point. As costs continue to rise, we will see more and more Americans without insurance or some type of healthcare coverage. So fewer and fewer people will actually use or be able to pay for all these advances. This in turn will increase costs even more for those who can afford to pay until they can no longer afford it either. In the process, many will actually see the healtcare available to them become even more limited, and eventually we will begin regressing instead of progressing when it comes to our overall health and longevity.
To actually hit 100% on health care expenditure would mean that spending on even food would have to cease to exist.
That is my point. The rising cost of healthcare is unsustainable. One way or another, it will hit a peak, and then we will ration care. The question is how do we stabalize costs and make available the best care possible for the most people possible.
Emphasize preventive and proactive medicine. Look at what Cuba is doing, With far less money available, their average life span and infant mortality rate is better than ours. And, before you wingnuts start howling, I am not endorsing their political system. But their medical system is onto something considering the results that they have been getting with far less resources.