Medicare to Drive Federal Spending Growth: Budget Office

Medicare will play a leading role in driving up federal outlays for health care, according to the latest Congressional Budget Office report.

The CBO said the federal outlays for programs including Medicare, Medicaid, the Children’s Health Insurance Program, and the insurance subsidies under Obamacare are projected to grow from 5.3 percent of gross domestic product in 2018 to 6.6 percent in 2028. That’s mostly due to growth in Medicare spending, the office said in its April 9 report providing the budget and economic outlook through 2028.

The aging population and rising cost of health care are to blame for this ...