U.S. Health Care Puts $4 Trillion in All the Wrong Places
America has failed the Covid-19 test, and it’s the accumulated result of policy and market decisions.
The new coronavirus was a test of America’s ability to protect the health of its people, and the country failed. The U.S. has the greatest number of confirmed cases and deaths in the world. Months after arriving in the U.S., the virus that wrecked the economy with disorienting velocity continues to inflict an unfathomable human toll.
The U.S. isn’t alone in failing to stop the coronavirus. But it is unique in how much of the nation’s economic resources are devoted to health care—about 18% of gross domestic product, more than any other country. The spending, approaching $4 trillion a year from taxpayers, employers, and households, is what makes America’s vulnerability to Covid-19 striking. What are we spending $4 trillion for, if not to avert disease and death?