Either healthcare gets reigned in or it will bankrupt the country. You cannot ever balance the budget by spending 1 out of every 3 dollars on healthcare. I would rather see the Medicare fraud and the healthcare complex taken on by DOGE instead of only focusing on general government waste. The largest target would reap the biggest savings.
As some policymakers in Washington are pushing to reduce the federal deficit and debt, this brief provides a concise explanation of federal spending for domestic and global health programs and services, which could be part of any conversation about curbing federal spending. These FAQs answer...
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How much support does the federal government provide for health programs and services?
The federal government provides support for health programs and services both through spending on programs and services and through tax expenditures. Federal spending on domestic and global health programs and services accounted for
29% of net federal outlays in fiscal year (FY) 2023 (taking into account offsetting receipts), or $1.9 trillion out of $6.4 trillion (Figure 1). Specifically, Medicare accounted for 13% of the total, Medicaid and CHIP accounted for 10%, other domestic health spending accounted for 4%, hospital and medical care for veterans was 2%, and global health was 0.1%. By comparison, Social Security accounted for 21% of federal outlays in FY 2023, while defense accounted for 13%.
The issue on Medicare and Social Security is that both are directly charged to the citizen against income earned prior to retirement age. These fees are actuarially determined based on various assumptions.
The citizen should privately and individually prepare for their age when no longer working.
Social Security and Medicare was never meant to serve the retired citizen as the only means of income or medical support. It was meant, in some benevolent way by politicians, to be an assist for those who don’t plan well financially.
Social Security “taxes”, paid by the citizen to the government, was to be set aside, invested, and paid back to the citizen.
Medicare “taxes” were set in the same way.
Both of these were placed on the citizen by the government to help provide for the citizen.
While other government programs are funded by taxes, social security and Medicare are taken from citizens even when private options are available, so the return to the citizen who paid into it should be guaranteed as in any investment. These “taxes “ are are actually investment accounts held by and managed by the government.
The problem comes in actuarial formulas. In any investment program, funds available are limited to the deposit and interest earned.
When the entity managing the account misappropriates the funds, the funds are not available to the depositor as promised.
Theses funds have been mishandled and used inappropriately to fund support programs that were never intended or anticipated. Any investment firm that handled our investments in the manner our government has would be shut down with officers in jail.
Bottom line. Allow DOGE to line item government expenditures transparently to show the ridiculousness of our debt structure.