Medicare costs are not skyrocketing in the US

Courtesy of The Business Insider Blog comes this chart from the former head of Office of Managment and Budget at the White House, Peter Orszag. Orszag now works at Citi Bank and pointed out this S&P chart which came out of the S&P’s investigation into healthcare inflation. And what a doozy of a visualization — Medicare provision is not keeping pace with other areas of consumption due to the decline in per unit (i.e. people) cost now the reasons for this would be interesting to know. Are there efficiencies bleeding in from other sectors that aren’t accounted for in the chart? Regardless the claims that medicare will sink the US budget due to runaway costs is clearly not being supported by the figures.

Peter Orszag Chart Shows Medicare Costs Slowing – Business Insider

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