Planned Economies Do Not Work - Part III by Kenn Jacobine

The cost of health care in the United States is a perennial issue in presidential election campaigns. Little wonder since money spent on it continues to rise year after year. In 1960 the United States spent just 5.2 percent of its gross domestic product (GDP) on health care. By 2007, total spending on health care was $2.3 trillion. This figure represented 16 percent of the GDP. While costs continue to rise, 47 million Americans are still left uninsured. This is quite a quandary – ever rising costs that still do not meet total needs.

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