Rising Medicare costs

The government is spending large amount of money on the Medicare sector and this is on the rise. The government has to act quickly otherwise the problem will be blown out of proportion. Health care costs are currently rising and is as high as 16% of gross domestic product and growing faster than the economy.

These rising health care costs are to be borne by the individuals, businesses, the states and the federal government employees. The process of cutting health care benefits and services will worsen the issue of tackling Medicare costs. The administration's proposals to begin modernizing the health care system by advancing information technology and reducing medical errors was welcomed by the public and other officials. These will improve the health care system and reduce the money spent on the system.