Since Lyndon B. Johnson’s “Great Society” programs of Medicare and Medicaid were amended to Social Security in 1965, healthcare costs have exploded as a percentage of GDP.
How much of the economy? Four times as much. Not only does America spend more on healthcare than any other developed country, it’s also near the top in public spending.
(Also, poverty hasn’t been reduced under the so-called “War on Poverty” — despite spending $15 trillion “fighting” it.)
While much of this increase can be attributed to an increasingly elderly population (62 million will be on Medicare by 2020), those who drafted the Medicare and Medicaid legislation and passed them also predicted that the programs would be able to contain costs. (Certainly, George W. Bush’s Medicare Part D didn’t help things; so both political parties, we’re looking at you.)