Refer to Table 5.3, What percentage of the federal spending was for healthcare in 1995 and in
Fantastic news! We've Found the answer you've been seeking!
Question:
Refer to Table 5.3, What percentage of the federal spending was for healthcare in 1995 and in 2022?
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/664515cc8dd42_596664515cc63c62.jpg)
Transcribed Image Text:
Total Federal Spending on Health Care (Billions $) 1965 1975 1985 1995 2005 2015 2022 Total Federal Spending 118 332 946 1,516 2,472 3,692 6,273 Federal Health Spending 3 30 117 307 616 1,138 1,835 Medicare 0.0 12.9 65.8 159.9 298.7 546.2 755.1 Medicaid 0.3 6.8 22.7 89.1 181.7 349.8 591.9 Veterans Affairs 1.3 3.7 9.5 16.4 28.8 61.9 110.7 Other 1.5 6.1 19.4 42.0 106.7 180.0 376.9 Active Duty DoD 0.0 0.0 8.2 15.4 36.1 48.0 55.4 Miscellaneous 1.5 6.1 11.2 26.6 70.5 104.7 242.0 Insurance Asst. 0.0 0.0 0.0 0.0 0.1 27.3 79.5 Health as % of Fed Spend 3% 9% 12% 20% 25% 31% Table 5.3 Healthcare spending has grown in importance as a contributor to overall federal spending and deficits. 29% In Table 5.3, the federal government's growing expenditures on healthcare programs are tracked over time along with the overall growth of federal expenditures or budgets. One of the macroeconomic effects of government spending in excess of revenue collection is that deficit spending by the government has to be financed via borrowing from the private sector. Whether government borrowing is satisfied by domestic or international lenders is sometimes cited as cause for concern, but monetary theory denies that this makes any difference. What is largely accepted by economic theory is that this borrowing by government tends to displace borrowing by the private sector, and "crowds out" borrowing that could be done by someone in private industry. There Total Federal Spending on Health Care (Billions $) 1965 1975 1985 1995 2005 2015 2022 Total Federal Spending 118 332 946 1,516 2,472 3,692 6,273 Federal Health Spending 3 30 117 307 616 1,138 1,835 Medicare 0.0 12.9 65.8 159.9 298.7 546.2 755.1 Medicaid 0.3 6.8 22.7 89.1 181.7 349.8 591.9 Veterans Affairs 1.3 3.7 9.5 16.4 28.8 61.9 110.7 Other 1.5 6.1 19.4 42.0 106.7 180.0 376.9 Active Duty DoD 0.0 0.0 8.2 15.4 36.1 48.0 55.4 Miscellaneous 1.5 6.1 11.2 26.6 70.5 104.7 242.0 Insurance Asst. 0.0 0.0 0.0 0.0 0.1 27.3 79.5 Health as % of Fed Spend 3% 9% 12% 20% 25% 31% Table 5.3 Healthcare spending has grown in importance as a contributor to overall federal spending and deficits. 29% In Table 5.3, the federal government's growing expenditures on healthcare programs are tracked over time along with the overall growth of federal expenditures or budgets. One of the macroeconomic effects of government spending in excess of revenue collection is that deficit spending by the government has to be financed via borrowing from the private sector. Whether government borrowing is satisfied by domestic or international lenders is sometimes cited as cause for concern, but monetary theory denies that this makes any difference. What is largely accepted by economic theory is that this borrowing by government tends to displace borrowing by the private sector, and "crowds out" borrowing that could be done by someone in private industry. There
Expert Answer:
Posted Date:
Students also viewed these economics questions
-
CoursHeroTranscribedText: Question 1 The daily volume of a brokerage company follows a normal distribution. The director wants to estimate the daily volume negotiated. a) What size should have a...
-
Brian Tull sold a put option on Canadian dollars for $.02 per unit. The strike price was $.75, and the spot rate at the time the option was exercised was $.80. Assume Brian immediately sold off the...
-
This assignment requires you to complete the 2022 tax reporting for a fictional woman named Anna Smith. Question 1 T1 - step 4 - line 66 This is Anna's taxable income Answer: Question 2 T1 - step...
-
Holly needs $21,800 worth of new equipment for his shop. He can borrow this money at a discount rate of 11% for a year. Find the amount of the loan Holly should ask for so that the proceeds are...
-
The amount of interest earned on a note receivable is a function of what three factors?
-
Luxor Company specializes in the repair of music equipment and is owned and operated by Amy Busby. On November 30, 2010, the end of the current year, the accountant for Luxor Company prepared the...
-
Explain why error bounds are calculated for substantive tests using simple attributes, whereas an upper precision limit in dollars is calculated for compliance tests.
-
Leblanc Electronics, Inc., in Nashville, produces short runs of customer airwave scanners for the defense industry. You have been asked by the owner, Larry Leblanc, to reduce inventory by introducing...
-
The population requires a significant amount of resources to provide services to meet their needs in a disaster event. Why resources are not typically available during an event or disaster.
-
The frequency of the middle G note on a piano is 392.00 Hz. What is the wavelength of this note in centimeters? The speed of sound in air is 343.06 m/s. Explain steps.
-
Octoberfest Event Center Inc. borrowed $1,000,000 from First Union Bank to acquire its events center. The loan bears interest at the rate of 5%. The loan is secured by a mortgage on the event center....
-
Define and explain the concept of religious discrimination in the workplace. Discuss the concepts of reasonable accommodations and undue hardship as it relates to religious accommodations. Please...
-
Dionex Corporation, a leader in the development and manufacturing of ion chromography systems, reported EPS of $2.02 in 1993 and paid no dividends. These earnings are expected to grow at 14% a year...
-
Discuss specific scenarios where the WACC may not be the appropriate or accurate way to measure a firms' discount rate.What are some critical points to keep in mind when using WACC?
-
Gold spot price is currently at $1850. Continuously compounding interest rate on dollar is 1%. Assume there is no storage or other cost/benefit on gold. If you are short 5 contracts of gold futures...
-
Happy Days provides tours to locations all over South America. Some of its most popular destinations include Macchu Picchu, the Galapagos Islands, Patagonia and Easter Island. The firm caters to...
-
Consider the following cash flows in Table P5.5. (a) Calculate the payback period for each project. (b) Determine whether it is meaningful to calculate a payback period for project D. (c) Assuming...
-
Bellingham, Inc., completed the following transactions during the current year. Instructions: Use page 8 of a general journal and page 15 of a cash receipts journal to journalize the transactions....
-
K-98.1 Radio is preparing its December 31 financial statements for the current year. On October 30, Parker Discount Stores paid $1,500.00 to K-98.1 Radio for advertising. The advertising contract...
-
On December 31 of the current year, McNeilson, Inc., has two notes receivable. Note Receivable No. 1, a 90-day, 10% note dated November 1, $200.00. Note Receivable No. 2, a 60-day, 10% note dated...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App