Question: According to the most recent data (which is a couple of years old) we have, the U.S. spent 17.8% of our gross domestic product (GDP)

According to the most recent data (which is a couple of years old) we have, the U.S. spent 17.8% of our gross domestic product (GDP) on health expenditures. Very soon, or possibly now, we are likely to spend in excess of 20% of our GDP on healthcare.

First, explain what you understand this to mean (explain GDP and the percent of GDP spending on healthcare in general terms).

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