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Public Debt Dynamics of Europe and the U.S. by Dimitris N. Chorafas

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10

Public Health Care Is the No. 1 Suspect

US budgetary deficits are nothing really unusual. What attracts attention is their huge size and tendency to grow by leaps and bounds every year. Congress proved unable or unwilling to enact debt control laws even if debt’s pace of growth is overwhelming. The exception has been sequestration.

The irony of sequestration is that it practically touches only lightly the heavy chapters of expenditures, because in their origin is a swarm of public health care costs and other sacred cows. Curiously, without anybody really paying attention to it, the United States joined France and Italy in the art of surviving its big budgetary deficits.

Obamacare, Medicare, Medicaid, and all other health care plans for an ...

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