The figures are out for health care costs in 2007 and spending grew only 6.1% to $2.2 trillion or $7,421 per person. Health care now consumes 16.2% of our country's Gross Domestic Product. The good news is thanks to slower growth in prescription drug spending the rate of increase was down from the 6.7% rate in 2006.
The new administration has its work cut out to restrain the growing costs of health care in this country. Every family knows how the cost of health care is growing faster than their paychecks.