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Health Care Spending Hits 15 Percent of GDP

  • January 19, 2005

The good news is health care spending slowed in 2003 a tad, increasing just 7.7 percent versus 9.3 percent in 2002, according to a recent government report. But that's not a whole lot to celebrate about, considering health care expenditures -- $1.7 TRILLION -- now account for more than 15 percent of this nation's gross domestic product (GDP). The same "disconnect" regarding health care statistics affects prescription drug spending too. That grew about 11 percent in 2003, certainly an...