Fierce Health Finance

March 14th, 2012

The Congressional Budget Office has issued a revised report projecting Medicare and Medicaid spending will grow significantly over the next decade.

The CBO has updated its January forecast that Medicare spending will drop $69 billion by 2020 in light of recently enacted legislation and an analysis of President Barack Obama’s budget. According to March projections, Medicare spending will jump to $1.058 trillion in 2022, almost double the $565.3 billion spent in 2011…

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