Government Price Controls for Health Care: A Deficit-Reduction Strategy to Avoid
The Joint Select Committee on Deficit Reduction—the “super committee”—created under the Budget Control Act of 2011 is tasked with proposing a strategy for reducing the federal deficit by $1.5 trillion over the next decade. If the committee fails, an automatic cut of 2 percent is authorized for Medicare, other domestic programs, and national security and defense budgets. In carrying out its mission, the super committee should focus on the main drivers of long-term runaway spending: health care entitlement programs. All Members of Congress should also bear in mind the importance of not e...