First published 6/24/11 on Health Populi
“With the aging of the population and growing health care costs, the budget outlook, for both the coming decade and beyond, is daunting,” reports the Congressional Budget Office (CBO) in the2001 Long-Term Budget Outlook report. If you read between the lines and into the future scenarios on health spending and budget deficits, it’s clear that as Baby Boomers age, America’s fiscal outlook gets bleaker by the year.
Spending on Medicare, and health care as it’s paid for today, is unsustainable. The pie chart shows that 22% of spending on health was for Medicare in 2009, 17% was allocated to Medicaid and CHIP for children, and 11% of spending was for other public health programs provided by state and local governments, the Department of Veterans Affairs, the Department of Defense, and workers’ comp.