How to Waste $750 Billion Annually

As the Europeans are debating over a few hundred billion USD of protective firewalls, the US is continuing the domination when it comes to big “unnecessary” numbers.

Every year, the United States spends eight times as much money on unnecessary health-care costs as the Pentagon spent for each year of its operations in Iraq.

The massive annual waste is the takeaway from a new report by the Institute of Medicine (IOM), which estimates that the country loses some $750 billion annually to medical fraud, inefficiencies, and other siphons in the health-care system. In comparison, the Defense Department budgeted $757.8 billion for the war in Iraq over the eight years it was there. (full article via The Atlantic).