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Spence is correct when he says that cost of healthcare is increasing at a slower pace than usual. I think it was increasing by about 8% per year, now it's increasing by something like 4% a year. Most of that comes from Medicare paying doctors less than they did before. I don't think that helps anyone who is not on Medicare. And I also think it's naive to assume that if you pay doctors less, you are getting the same level of service. Something has to give, and at some point, doctors will stop seeing Medicare patients.
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