September 8, 2012
I’M GOING OUT ON A LIMB AND SAYING THAT OBAMACARE WON’T HELP: U.S. Health Care Waste Larger Than Pentagon Budget. “It’s not exactly earth-shaking news that there’s a lot of waste in the U.S. health care system, but this item we came across still managed to stagger us: A report by the Institute of Medicine estimates that as much as $750 billion is wasted in the U.S. health care system each year. Three quarters of a trillion dollars. Every year. As the Wall Street Journal notes, that’s bigger than the Pentagon budget, amounting to roughly 5 percent of GDP. The report offers a familiar laundry list of problems. Unnecessary services are the leading driver of waste, but administrative expenses and inefficient care are not far behind.”
Under ObamaCare, though, “waste” will probably be redefined as “health care for our political enemies.” And there probably will be less of it.