This CMS study published in Health Affairs found that the U.S. health care spending growth slowed to 4.4 percent in 2008, the lowest rate in forty-eight years.  However, despite the slower growth rate, health care spending reached $2.3 trillion in 2008 and continued to grow as a portion of the Gross Domestic Product (GDP), increasing from 15.9 percent of the GDP in 2007 to 16.2 percent in 2008.  The authors note that, despite the slowed growth rate, increases in spending continue to outpace the growth in available resources.  Finally, the report also examines health care spending by payer, noting that the federal share of spending grew nearly twice as fast as total health care spending.

Hartman et al.(2010). Health spending growth at a historic low in 2008. Health Affairs; 29: 147-155. doi: 10.1377/hlthaff.2009.0839 http://content.healthaffairs.org/cgi/reprint/29/1/147

Authors: Hartman, Micah, Martin, Anne, Nuccio, Olivia  and Catlin, Aaron