Health Care Spending to Consume More Than 25% of Gross Domestic Product by 2035

By 2035, the value of total spending on health care in the United States will exceed 25% of the gross domestic product (GDP), according to a recent estimate by the Congressional Budget Office (CBO). In 2009, the total spending on health care was $2.3 trillion, or 16.5% of GDP. About 51% of the $2.3 trillion was financed privately; 49% (about $1.1 billion) was from public sources to cover costs of Medicare; Medicaid and the Children’s Health Insurance Program (CHIP); and spending on health services and supplies by the Department of Veterans Affairs, the Department of . . .