An astonishing 18.3% of Americans are on Medicaid today. Spending on the program has reached nearly 2% of GDP. Dan Mitchell outlines how utterly depressing this is, and how bad it will be for America if such conditions continue.
Let’s look at just one piece of that puzzle. James Capretta of the American Enterprise Institute has a very sobering summary of how Medicaid has metastasized into one of the largest and fastest-growing entitlement programs.
You should read the entire article, but if you’re pressed for time, I’m going to share two grim charts that tell you what you need to know.
First, we have a look at how the burden of Medicaid spending, measured as a share of national output, has increased over time.
What makes this chart particularly depressing is that Medicaid was never supposed to become a massive entitlement program.
Read more from Dan here.