{"id":34420,"date":"2024-06-19T11:43:11","date_gmt":"2024-06-19T18:43:11","guid":{"rendered":"https:\/\/occupysf.net\/?p=34420"},"modified":"2024-06-19T11:43:12","modified_gmt":"2024-06-19T18:43:12","slug":"we-need-medicare-for-all-yesterday-us-healthcare-spending-to-hit-7-7-trillion","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2024\/06\/19\/we-need-medicare-for-all-yesterday-us-healthcare-spending-to-hit-7-7-trillion\/","title":{"rendered":"‘We Need Medicare for All Yesterday’: US Healthcare Spending to Hit $7.7 Trillion"},"content":{"rendered":"\n
\"Medical<\/figure>\n\n\n\n

A medical worker puts on a mask before entering a room with a Covid-19 patient in the ICU ward at UMass Memorial Medical Center in Worcester, Massachusetts on January 4, 2022.<\/p>\n\n\n\n

\u00a0(Photo: Joseph Prezioso\/AFP via Getty Images)<\/p>\n\n\n\n

“The jaw-dropping figures,” said one advocate, “highlight the need to move to Medicare for All immediately.”<\/h2>\n\n\n\n

JAKE JOHNSON<\/a><\/p>\n\n\n\n

Jun 14, 2024 (CommonDreams.org)<\/a><\/p>\n\n\n\n

A federal analysis released this week projects that U.S. healthcare spending is set to rise to $7.7 trillion by 2032 and account for nearly 20% of the nation’s economy, findings that single-payer advocates described as yet another indictment of the country’s for-profit system and further evidence of the need for Medicare for All.<\/p>\n\n\n\n

The Centers for Medicare and Medicaid Services’ (CMS) Office of the Actuary said<\/a> Wednesday that it expects national healthcare expenditures to outpace U.S. economic growth over roughly the next decade, “resulting in an increase in the health spending share of GDP from 17.3% in 2022 to 19.7% in 2032.”<\/p>\n\n\n\n

The CMS analysis showed that U.S. healthcare spending grew at a rate of 7.5% last year, with overall expenditures reaching $4.8 trillion. CMS said it projects health spending will rise by 5.6% annually over the coming years, with overall spending reaching $7.7 trillion by 2032.<\/p>\n\n\n\n

Robert Weissman, president of the consumer advocacy group Public Citizen<\/a>, said in a statement<\/a> Thursday that the coming surge in healthcare spending “has nothing to do with improving care and everything to do with price-gouging, monopolization, and wealth extraction by insurance corporations, Big Pharma, and for-profit hospitals.”<\/p>\n\n\n\n

Despite spending more on healthcare per capita than any other rich nation, the U.S. consistently ranks last<\/a> among its peers in health outcomes.<\/p>\n\n\n\n

NEW: The Centers for Medicare and Medicaid Services\u00a0projected U.S. health care spending would climb to $7,000,000,000,000 by 2032, or 19.7% of our economy.

The U.S. spends more on health care than any other country.

We need Medicare for All yesterday. pic.twitter.com\/uJ2rhUiVyI<\/a><\/p>— Public Citizen (@Public_Citizen) June 13, 2024<\/a><\/blockquote>