Press Release for the White House: Health Care Reform

The White House Council of Economic Advisers released a report titled The Economic Case for Health Care Reform, detailing how theeconomy is going to be affected by the raising cost of health insurance in America. Christina Romer, who holds a chair in the CEA, stated that:

Years of diagnosis on the ills of the U.S. health system have produced no cure. Health care expenditures in this country are currently represents 18% of the Gross Domestic Product (GDP)and, without new health care reform,it will continue to increase. The CEA predicts that nearly one-third of the GDP's budget will be dedicated to the health care in the United States by 2040.

Currently, about 46 million American lack health insurance coverage, and this number is predicted to rise to 72 million in the next thirty years. With these new health care reforms, several aspect of the GDP will be positively impacted including the deficit, unemployment, standard of living and even the labor markets.

For a full version of this Economic Case for Health Care Reform, click on the link below:

http://www.whitehouse.gov/assets/documents/CEA_Health_Care_Report.pdf