I found some shocking statistics pertaining to the national debt and I just had to share them with you. The “debt-ceiling” and Congresses’ “Super Committee” have got me thinking about how government cuts are going to affect health care and future nurses who are in an online RN to BSN degree program.
Here are a few facts that I found staggering on Mygovcost.org.:
1. As of December 28th, 2010, the U.S. national debt was $13,877,230,355,933.00.
2. If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.
3. If the federal government began repaying the national debt at a rate of $10 million dollars a day it would take approximately 3,800 years to pay off the national debt.
4. Today, the U.S. national debt is increasing by roughly $4 billion every single day.
With facts like that, it is quite obvious that something drastic has to be done. Dierdre Shesgreen writes an interesting article in the CT Mirror explaining how government spending is going to impact medical care. “Doctors, hospitals, and others in the health care industry are deeply worried about how the agreement–in particular, a second phase of deep spending cuts to be outlined later this year–could impact their financial stability and patients’ access to care.”
Shesgreen explains that, “Under the debt deal, Congress agreed to create a 12-member bipartisan, bicameral ‘super committee’ tasked with finding at least $1.5 trillion in debt-reduction measures before Thanksgiving. The panel can look at entitlement reform and tax increases to reach that goal.
“Medicare and Medicaid account for nearly one-quarter of all federal spending, and the costs of those two health care programs are on the rise. So they will be key targets in any serious debt-reduction package considered by the committee.
“If the special committee fails to agree on a $1.5 trillion in savings, or if Congress can’t pass whatever the panel comes up with, then $1.2 trillion in automatic spending cuts will go into effect. And while the triggered cuts will not touch Medicaid, it will hit Medicare providers, who are slated to get a 2 percent reduction in reimbursements.”
With changes on the horizon, quality nurses are vital as patient advocates. Those in a BSN degree program are going to have to budget their time, skills and energy to be even more efficient.
To read the complete articles mentioned in this post, please visit