Fed Chairman: Health reform critical

Federal Reserve chairman Ben Bernanke said Monday that curbing the escalating cost of health care should be one of that nation's top priorities. (Source: "Bernanke Says Rising Health Care Costs a Strain," New York Times, June 17, 2008)

Citing the aging of baby boomers and escalating health care costs, Bernanke warned that both personal and government budgets will be increasingly squeezed unless reforms are enacted. Bernanke said the three major areas that need to be addressed are providing better access to the 47 million Americans who are uninsured, improving quality of care and controlling costs.

“Improving the performance of our health care system is without a doubt one of the most important challenges our nation faces,” Bernanke said in remarks to a Senate panel on on health care changes.