U.S. spent $2.1 trillion on health care in 2006
Medical spending information released from the federal government this week indicated that a record $2.1 trillion was spent in 2006 for health care in the U.S. Yes, that's trillion with a 't.' Excuse me, but is that number unbelievably high?The $2.1 trillion figure was 7 percent higher than in 2005, and although the 2006 figure indicates that health care spending is actually slowing down from just a decade ago, it may be headed for higher ground in the near future.
Why on earth are we spending so much on health care in the U.S.? Although the $2.1 trillion figure includes everything from insurance to individual spending and from local to federal government spending, the figure is still astounding.
The U.S. population hasn't doubled in the last decade, nor will it double by 2016. However, by 2016, the figure is estimated to hit $4.1 trillion (PDF link) from 2006's $2.1 trillion. That's one meaty decade for health care expenditures.
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