This story originally ran on The Independent Report.
According to Medicare/Medicaid ServicesÂ annual report, health care costs grew to 17.6% of the US economy in 2009, or more than $1 out of every $6 spent in America. That's a new record, and it's also the greatest share of GDP dedicated to healthcare by any nation in the world.
Despite the fact that GDP declined 1.7% in 2009, health care spending continued to increase anyway.
In 2009, industrialized nations spent an average of 8.9% of GDP for healthcare expenditures, according to the OECD. Yet, in the US, it approached 18%.
This figure is beyond inefficient and is simply unsustainable. All of this spending takes money away from other vital sectors of the economy.Â
Americans spent $2.5 trillion on health care in 2009â€”or $8,086 per personâ€”a 4% increase from 2008. That is more money spent per person than any other country in the world, by far.