OPINION: Health spending — under control?
Has the monster of exploding health costs finally been slain? After five years of slow spending growth, it’s tempting to think so. This would be a momentous development, because rising health spending has had damaging side effects. It has reduced workers’ take-home pay, as employers devoted more compensation dollars to insurance and fewer to wages and salaries. Growing government health spending (mainly through Medicare for the elderly and Medicaid for the poor) has had a similar effect. It has squeezed other public programs.