Peter Orszag: Health costs are the real deficit threat

Peter Orszag, director of the White House Office of Management and Budget, says the nation needs to undertake comprehensive health reform to transform our healthcare system so that it improves efficiency and increases value. Healthcare costs are already so high and the power of compound interest so strong that reducing the growth rate by 1.5 percentage points per year would save substantial sums, he adds in this opinion piece published in the Wall Street Journal.