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Health care in America has increasingly priced itself out of the reach of customers. Consumers and employers have long complained about the system’s lack of affordability. And the payer of last resort—government—is now facing the same reality.
Indeed, the current debate over how to manage the country’s deficit has produced a striking milestone in American politics: Bipartisan agreement essentially exists on the need to dramatically rein in government health spending. The argument is not about whether to cut costs, but how...
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