Crossposted at vibinc
When people think about a recession, they primarily identify with purely economic measures. Considering the current economic climate, it’s easy to understand why people are thinking about their financial future. But more and more people in this country are experiencing a “Healthcare Recession”.
What is a “Healthcare Recession”? It is the steady diminishing of the availability of services and the health of a populace due to increasing costs, restrictions, or loss of coverage.
The US spends $2.4t a year on healthcare, or 17% of our GDP, yet we have some 47+ million living with no insurance. Other nations, such as Germany, France, and Canada spend between 9% and 11% of their respective GDP and they still manage to cover everyone.
Healthcare expenses are, at least partly responsible for 50% of all personal bankruptcies in the US. That’s right, 50% of the people who declare bankruptcy aren’t the deadbeats some in government would paint them to be, they’re sick people.
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