Healthcare Spending Trends
A significant issue for workers, businesses and the government is the rising and growing cost of healthcare. It is projected that 16.2 percent of the gross domestic product or GDP of the United States would be spent on healthcare in 2007 alone. This statistic has grown considerably faster than the economy since the 1960s. Projected statistics places the spending cost at approximately $7,500 for every American or a total of $2.2 trillion for the healthcare cost in 2007. In 1970, the figure was about $365 for every American and $75 billion for the year. Side by side with GDP, healthcare cost has risen 2.4 percent faster since 1970. The U.S. appropriates more of its economy in healthcare expenditure more than any other developed country in the World.