The United States could eliminate the nation’s deficit if health care costs
per person were the same as other industrialized nations, according to a new report from the Center for Economic and Policy Research.
The center developed a health care budget deficit calculator
that shows how long it would take the nation to eliminate the deficit if we swapped health care costs with another country. For example, by switching U.S. health care prices out with Australian health care prices, the deficit would disappear by 2040.
“The country faces a health care cost crisis. If it addresses this crisis, it does not have a deficit problem. If it doesn’t address the health care cost crisis, there is no plausible way to address the problem of the deficit,” CEPR said in a statement.