The health share in the economy has decreased in the year 2012 as stated by federal data released on Monday.
The decline, the largest of its kind in a decade has come after a slow growth in heath care spending. This phenomenon has puzzled the economists that whether the decline is merely short term or is part of a bigger change in the medical industry.
According to a Harvard Economist David Cutler, who also served as a health advisor in President Obama’s 2008 campaign said “There are two explanations, One is the recession was a big and drunken episode that has a very long hangover. The alternative view is that something big has actually changed.”
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