The Government's Role in the Health Care Industry: Past, Present, and Future
In 1965, Congress enacted Medicare and Medicaid to ensure that poor and elderly Americans would not be denied access to health care. In that year, 5.9 percent of the nation’s total output was spent on medical services. By 1992, this share had soared to approximately 14 percent, and by the year 2000, it is projected to reach almost 19 percent. The growing fraction of the economy devoted to health care is one reason why many advocate a major overhaul of the current system.
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