Check this very scary projection of what current trends in health-care spending will mean for our economy: a growing weight that will account for half of GDP by 2082:
Peter Orszag, Obama's budget director, shows that slide in his standard talk on what's wrong with our budget. It shows why, as Ezra Klein puts it,
an odd bedfellows coalition of centrist economists ranging from Dean Baker to Henry Aaron to Paul Krugman to, well, Peter Orszag and Jason Furman have been forcefully arguing that there is no such thing as an "entitlement crisis." Social Security is safe. The crisis is in Medicare.…
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