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Unless lawmakers, businesses, and consumers act now to control the cost of caring for the rapidly aging baby boom population, soaring health care expenditures could easily cause the U.S. economy to stagnate during the first half of the 21st century. According to a new report from Hudson Institute, the Nation's health care expenditures will rise sharply during the next 40 years, absorbing most of the income generated by gains in productivity and increasing the financial burden on both retirees and workers.
Hudson's report, The Curable Crisis: Rethinking America's Health-Care Priorities, was written by Dr. David J. Weinschrott, a Hudson Research Fellow who specializes in the economics of health care. His report is based on a study Hudson prepared in 1992 for the U.S. Department of Health and Human Services.
The Curable Crisis warns that none of the health...