We previously presented the following chart from Citi in our report on America's brief flirt with income statement austerity, although we feel we may not have emphasized it enough. So, in an attempt to remedy that situation, here is the chart that casually explains most if not everything that is wrong with the US healthcare system, currently the cause of so much political bickering and consternation... not to mention future spending.
PS. And if the chart above is not enough, here is a comparison of healthcare outlays both past and present and revenue streams, which, in the words of Citi "will unravel most any other structural changes in the budget given enough time."
We bring up these charts again as today we are precisely 5 days away from the dead ceiling legislative (not financial) deadline, and DC is likely to come up with a straw man compromise that merely kicks the can down the road yet does nothing to resolve the main issue: America's doomed "welfare state" going concern as indicated by the above charts. It also confirms another observation: responsibility for America's untenable spending picture lies not only with D.C. - it really begins and ends with each of us.