Medicare fraud is a $60 billion a year industry, and in places like Miami, Florida, it is actually bigger than the drug trade. The 60 Minutes CBS news program reported this on October 25, saying: “This story may raise your blood pressure, along with some troubling questions about our government’s ability to manage a medical bureaucracy.”
President Barack Obama granted himself more broad powers late last week when he declared the swine flu outbreak a national emergency, announcing the decision over the weekend to a chorus of ridicule and fiery criticism.
A major healthcare study by Thomson-Reuters has concluded that the United States wastes between $600 billion and $850 billion on healthcare annually, a third of all healthcare costs. Perhaps more importantly, the study essentially concluded that President Obama is looking in the wrong directions for eliminating major sources of waste in his reform efforts.