Everybody agrees that healthcare costs are way too high. Back in 1960, healthcare spending accounted for approximately 5 percent of GDP, and by 2020 it is being projected that healthcare spending will account for 20 percent of GDP. And when you break those numbers down into actual dollars, they become even more staggering. Back in 1960, an average of $146 was spent on healthcare per person for the entire year, but today that number has skyrocketed to $9,990. On a per capita basis, we spend far more than anyone else in the world on healthcare. In fact, we spend almost twice as much as most other industrialized nations on a per capita basis. Something has gone terribly wrong, and we desperately need to get this fixed.
Just between the years of 1996 and 2013, our spending on healthcare rose by a whopping 900 billion dollars, and it is