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The rising cost of prescription drugs is a key driver of overall healthcare spending in the U.S. This trend has significant implications not only for Americans who rely on medications, but also for our nation’s budget and fiscal outlook.
The United States spent $631 billion on national defense during fiscal year (FY) 2018 according to the Office of Management and Budget, which amounts to 15 percent of the federal budget.
https://www.pgpf.org/budget-basics/budget-explainer-national-defense
The cost and quality of the U.S. healthcare system is one of the most prominent issues facing everyday Americans. It is a top policy concern for voters, a key indicator of economic efficiency, and a significant driver of the national debt.
https://www.pgpf.org/blog/2019/07/how-does-the-us-healthcare-system-compare-to-other-countries
Overall healthcare costs — including all private and public spending — are anticipated to rise by an average of 5.5 percent per year over the next decade.
Medicare is an essential health insurance program serving millions of Americans, and a major part of the federal budget and our fiscal outlook.
The Social Security and Medicare Trustees released their annual reports, which show that these vital programs are on an unsustainable path.
https://www.pgpf.org/blog/2019/04/five-charts-about-the-future-of-social-security-and-medicare
High healthcare spending is not necessarily a bad thing, especially if it leads to better health outcomes. However, that is not the case in the U.S.
https://www.pgpf.org/blog/2019/03/why-are-americans-paying-more-for-healthcare
Significant damage was done to America’s fiscal outlook over the past year.
Programs that millions of Americans depend on and care about may be feeling a squeeze from interest costs on our high and rising national debt.
The dust has barely settled on the midterm elections, but there are a number of key fiscal issues not only facing the current Congress in coming weeks, but also awaiting the new Congress, which will convene in early 2019.
