GAO: Rising health care costs to hit state and local budgets

04/30/2013 | Reuters

Revenue in most states has rebounded since the recession, but the continued growth in health care costs will prevent state and local governments from closing budget gaps unless they raise taxes or further cut spending by 14.2% each year, the Government Accountability Office says. For these governments, health care spending will consume about 7.2% of gross domestic product by 2060, compared with about 3.8% of GDP this year, the GAO said.

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