Consider the big picture of our American economy, with health care being an important part of it. How does the large share of American gross domestic product (GDP) that we spend on health care each year impact our nation’s economy overall? What other areas of our economy may currently be suffering because of so much medical spending? In your view, can America continue to spend this much money on health care without sacrificing the quality of American life in other areas? Why or why not? Please support your position.

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As outlined throughout this assignment, the US spends an enormous amount of money on its healthcare system. More than 19% of the country’s GDP is used to support the present healthcare system, putting significant strain on many parts of society. First, such a large portion of the yearly earnings being spent requires all parts of the economy to work harder in order to maintain an ever-increasing amount of GDP in the next year.

Companies and government organizations are expected to find ways of making more money each subsequent in order to both demonstrate the prosperity of the nation and ensure its people have access to necessary services. This can often push for cuts in spending or facilitate bad working conditions for the lower class.

Many areas of the economy are suffering because of excessive spending. For reasons outlined in the previous paragraph, businesses and the job market experience considerable pressure. American companies, under the expectation of providing an increased profit each year, often exploit their workers, leading to layoffs, wage cuts, limiting workplace insurance, and other measures designed to decrease costs.

Similarly, welfare spending has to be rationed in accordance with the available resources. A focus on an expensive healthcare system, then, means that the capacity for a robust social support system is limited. Other essential areas of governance, such as environmental protection and education are also underfunded. In my view, it is impossible for the US to maintain its healthcare system as it currently exists.

The bloated, difficult to manage, and costly healthcare weighs down the economy and allocates many of the nation’s resources ineffectively. As seen with the recent COVID-19 pandemic, even with the enormous proportion of GDP spent on healthcare, the US is unable to support its population’s health and well-being. If a system is ineffective at fulfilling its role while also dragging down an entire nation’s prosperity, I think it should be changed.

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Academic.Tips. (2023) 'Consider the big picture of our American economy, with health care being an important part of it. How does the large share of American gross domestic product (GDP) that we spend on health care each year impact our nation’s economy overall? What other areas of our economy may currently be suffering because of so much medical spending? In your view, can America continue to spend this much money on health care without sacrificing the quality of American life in other areas? Why or why not? Please support your position'. 11 May.

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Academic.Tips. (2023, May 11). Consider the big picture of our American economy, with health care being an important part of it. How does the large share of American gross domestic product (GDP) that we spend on health care each year impact our nation’s economy overall? What other areas of our economy may currently be suffering because of so much medical spending? In your view, can America continue to spend this much money on health care without sacrificing the quality of American life in other areas? Why or why not? Please support your position. https://academic.tips/question/consider-the-big-picture-of-our-american-economy-with-health-care-being-an-important-part-of-it-how-does-the-large-share-of-american-gross-domestic-product-gdp-that-we-spend-on-health-care-each-ye/

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Academic.Tips. 2023. "Consider the big picture of our American economy, with health care being an important part of it. How does the large share of American gross domestic product (GDP) that we spend on health care each year impact our nation’s economy overall? What other areas of our economy may currently be suffering because of so much medical spending? In your view, can America continue to spend this much money on health care without sacrificing the quality of American life in other areas? Why or why not? Please support your position." May 11, 2023. https://academic.tips/question/consider-the-big-picture-of-our-american-economy-with-health-care-being-an-important-part-of-it-how-does-the-large-share-of-american-gross-domestic-product-gdp-that-we-spend-on-health-care-each-ye/.

1. Academic.Tips. "Consider the big picture of our American economy, with health care being an important part of it. How does the large share of American gross domestic product (GDP) that we spend on health care each year impact our nation’s economy overall? What other areas of our economy may currently be suffering because of so much medical spending? In your view, can America continue to spend this much money on health care without sacrificing the quality of American life in other areas? Why or why not? Please support your position." May 11, 2023. https://academic.tips/question/consider-the-big-picture-of-our-american-economy-with-health-care-being-an-important-part-of-it-how-does-the-large-share-of-american-gross-domestic-product-gdp-that-we-spend-on-health-care-each-ye/.

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Academic.Tips. "Consider the big picture of our American economy, with health care being an important part of it. How does the large share of American gross domestic product (GDP) that we spend on health care each year impact our nation’s economy overall? What other areas of our economy may currently be suffering because of so much medical spending? In your view, can America continue to spend this much money on health care without sacrificing the quality of American life in other areas? Why or why not? Please support your position." May 11, 2023. https://academic.tips/question/consider-the-big-picture-of-our-american-economy-with-health-care-being-an-important-part-of-it-how-does-the-large-share-of-american-gross-domestic-product-gdp-that-we-spend-on-health-care-each-ye/.

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"Consider the big picture of our American economy, with health care being an important part of it. How does the large share of American gross domestic product (GDP) that we spend on health care each year impact our nation’s economy overall? What other areas of our economy may currently be suffering because of so much medical spending? In your view, can America continue to spend this much money on health care without sacrificing the quality of American life in other areas? Why or why not? Please support your position." Academic.Tips, 11 May 2023, academic.tips/question/consider-the-big-picture-of-our-american-economy-with-health-care-being-an-important-part-of-it-how-does-the-large-share-of-american-gross-domestic-product-gdp-that-we-spend-on-health-care-each-ye/.

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