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Health spending rises in 2008, but at slower rate

New York Times, January 5, 2010

Health spending grew in 2008 at the slowest pace in 48 years as the recession held back the growth of health costs, the federal government reported. Health spending topped $2.3 trillion in 2008, up 4.4% from the previous year. But the rate of growth in 2008 was down from 6% in 2007 and an average increase of 7% a year in the decade from 1998 to 2008. Healthcare accounted for 16.2% of the gross domestic product in 2008, up from 15.9% in 2007, according to the report by the Department of Health and Human Services.