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Monday, October 12, 2020

The Federal Budget in 2019: An Infographic | Congressional Budget Office

Healthcare Spending in the US Federal Budget Medicare and Medicaid: 29% Social Security: 24% National defense: 15% Income security: 13% Interest on the national debt: 6% Veterans affairs, 5% Social services and education: 3% Transportation: 2% International affairs: 1% Everything else: ~3% Healthcare spending increased with the affordable care act (ACA) by virtue of expansion of Medicaid. The cost of Medicaid is shared by states and by the federal government. A rollback of ACA seeks to discontinue the Medicaid expansion which would stop the federal spending match. Some questions to answer: -Do the most vulnerable in our society deserve healthcare coverage? -How shall we pay for that coverage? -Are we paying for that coverage in the most efficient way? -What are the long-term solutions to move such vulnerable populations out of their current state such that over years/generations, such coverage is no longer necessary? It is said the government is essentially a public insurance company with a large standing army. That being said, the salient question is, “what insurance coverage do we need as a society and how much are we willing to spend for it?“ https://ift.tt/1VMjaZw
from Rajesh Harrykissoon, MD

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