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• W1591374352 abstract "our gross domestic product (GDP). And within seven years that’s going to double to $4 trillion and that’s going to go to 21 percent of GDP in America. When you reach this level, you put a lot of companies in St. Louis and in the Midwest out of any kind of competitive advantage in the international arena, because health care costs for countries around the world are much smaller percentages of GDP than those in the United States. For instance, Japan is the second largest economic power right now, soon to be overtaken by China. Right now, Japan is spending about 71/2 percent of GDP on health care and may reach 8 percent when we reach 21 percent here in the United States. If we are going to be competing against Japan, we are going to see what is already taking place in the automobile sector: At the beginning of this year, General Motors was the largest automobile manufacturer and seller of cars in the world. They pay $1,725 per automobile to sustain their employee health care system. Toyota, a Japanese company, spends $225 dollars per automobile. So every car that General Motors sells costs an extra $1,500 for the company to produce. We have seen the toll this has taken on General Motors and Ford. According to business projections, Toyota was not supposed to overtake Ford until the end of this year; they overtook Ford in January of this year. They were not supposed to overtake General Motors until the middle of next year; they overtook General Motors and became the largest automobile manufacturer in the world in April of this year. This is indicative of the challenges that Thank you very much and good morning. Ladies and gentlemen, if we want to understand Medicaid, we must look at the overall picture. We can’t do it in isolation. What I would really like to have you do is to think about how you could change the system because the system has got to be changed dramatically to survive. Health care in America, I believe, is the best in the world. Now, you can find countries that do better in prenatal care. You can find a country that does better on longevity or on mental disease and defect. In any one area of health care, you can find a country that is probably doing something better than the United States. But overall, holistically, if you are going to become sick, you will want to receive care in a U.S. city such as St. Louis because you have got an outstanding, outstanding health care system here. You’ve got some of the best researchers, some of the most talented people in the world right here in St. Louis. So if you are going to get sick, no matter where you are in the country, you will want to get back to St. Louis to be taken care of. I think it is pretty common for Americans to feel this way. If our health care system is this good, we surely want to preserve it. The health care system in America is under a great deal of stress and strain. It’s not onlyMedicaid, it’s the total system. Right now we are spending $2 trillion on health care. You may want to take some of these figures down because I think they are really relevant. Two trillion dollars is what we expend now on health care. That’s 16 percent of" @default.
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• W1591374352 title "Medicaid in the United States" @default.
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