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And we know that most bankruptcies in the US are related to medical expenses. The market driven US health care system murders more people than all the terrorist groups put together. I commented on the recent meningitis outbreak another example of market failure with devastating results.
How Government Regulations Made Healthcare So Expensive. Those who cannot remember the past are condemned to repeat it, declared philosopher George Santayana. The U.S. âhealth care cost crisisâ didnât start until 1965. The government increased demand with the passage of Medicare and Medicaid while restricting the supply of doctors and hospitals. Health care prices responded at twice the rate of inflation (Figure 1).