Buffett: Healthcare costs draining businesses
OMAHA, Neb. — Billionaire Warren Buffett says health care costs are a major drain on U.S. businesses and act like an “economic tape worm.”
The head of the holding company Berkshire Hathaway Inc. said Monday on CNBC that America’s health care system needs fundamental reform to attack costs because it’s not practical to continue devoting roughly 17 percent of the nation’s gross domestic product to health care.
Buffett says much of the rest of the world is paying about 9 percent of their GDP on health care and have more doctors and nurses per person.
He says he hopes Congress will develop a new health care reform proposal that will restrict costs more than any of the current plans would.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- A BIG CHANGE: New mortgage rules seen bringing increase in pricey mobile home loans
- Analyst: KiOR Columbus plant may end up sold as scrap
- Warden who lives hundreds of miles from jail resigns
- Ex-MDEQ leader Fisher joins Butler Snow
- Jail kitchen supervisor pleads guilty to stealing food
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- Hunting-weapons legislation passes House
- Nehi Bottling Company has been a Cleveland fixture for 85 years