Government Predicts Health Spending to Double By 2017

The Centers for Medicare and Medicaid Services predicts that health care spending will double to $4 trillion by the year 2017. When this happens, 20% of all spending in the nation will be on health care.

According to the Houston Chronicle, the federal government believes that increasing demand for care, higher prices, and an aging population will all contribute to the rise in spending. Proposals to reduce spending have not fared well in Congress thus far, but experts agree that something must be done to control costs.

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