Healthcare spending always exceeds GDP growth – no impact.
Imani Telesford 23, Research Assistant at KFF for the Program on the ACA and the Peterson-KFF Health System Tracker, et al., 2/7/23, “How has U.S. spending on healthcare changed over time?” https://www.healthsystemtracker.org/chart-collection/u-s-spending-healthcare-changed-time/#Total%20national%20health%20expenditures,%20US%20$%20Billions,%201970-2021 //sj
The share of the gross domestic product (GDP) devoted to health care reached 19.7% in 2020, an uptick from prior years as health spending increased and GDP decreased. In 2021, total national health expenditures as a share of GDP fell to 18.3% as the economy recovered and health spending increased moderately. Still, health expenditures represented a larger share of the economy in 2021 compared to pre-pandemic levels.
Health spending growth slowed in recent decades but consistently exceeded GDP growth until 2021
[Diagram]
From 1970 through 1980, the average annual per capita growth in the U.S. economy was 9.3% per year, compared to per capita health spending growth of 12.0%. Although health spending growth rate has since moderated, it generally continues to outpace growth of the economy. After a period of recession during the COVID-19 pandemic, the economy recovered in 2021 with GDP per capita increasing 10.6% over 2020. Per capita national health expenditures increased 2.6% from 2020-2021.