The Office of the Actuary, an independent arm at the Centers for Medicare and Medicaid Services (CMS), released a new report showing that "National health spending accounts for the largest share of the U.S. economy since federal auditors began tracking the data in 1960." And, minus some sort of reform effort, it's only going up.
In 2009, national health spending made up a record 17.3 percent of the gross domestic product, a 1.1 percentage point increase from 2008, the largest-ever one-year increase reported, the CMS actuaries report based on preliminary estimates.
Total health spending grew 5.7 percent to $2.5 trillion last year. That rate of growth is faster than the 4.4 percent in 2008 but still less than the 6 percent reported in 2007. The 2008 figure was the lowest growth rate since the CMS actuaries began issuing these reports 50 years ago.WE CAN'T AFFORD TO WAIT--