The government’s long-run fiscal problem is “overwhelmingly driven by rising health care costs,” columnist Paul Krugman wrote. “The Congressional Budget Office expects Social Security outlays as a percentage of GDP to rise 30 percent over the next quarter-century, as the population ages, but it expects a near doubling of the share of GDP spent on Medicare and Medicaid. So if you’re serious about deficits, you shouldn’t be pinching pennies now; you should be looking for ways to rein in health spending over the long term.”
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