"Maybe We Could Have Bought Him a Good Pair of Shoes."

High health care spending has far-reaching consequences in the U.S. economy, contributing to wage stagnation, personal bankruptcy, and budget deficits, and creating a competitive disadvantage relative to other nations. 

A new report, U.S. Health Care from a Global Perspective: Spending, Use of Services, Prices, and Health in 13 Countries, from the Commonwealth Fund finds one potential consequence of high health spending is that it may crowd out other forms of social spending that support health. 

In the U.S., health care spending substantially outweighs spending on social services. This imbalance may contribute to the country’s poor health outcomes. A growing body of evidence suggests that social services play an important role in shaping health trajectories and mitigating health disparities. 

How does lower spending on social spending affect health care costs? Listen to "Maybe we could have bought him a good pair of shoes."