WASHINGTON, D.C., Dec. 12, 2005 — Intel Corporation Chairman Craig Barrett today urged U.S. government leaders to seize the opportunity to apply technology to help solve the economic and social challenges faced by the country due to skyrocketing healthcare costs and a growing wave of aging citizens.
Speaking at the White House Conference on Aging, held only once a decade, Barrett said, ‘This is a golden moment to bring government, healthcare professionals, industry and academia together to accelerate innovation and investment for this critical national issue.’
With nearly 35 million senior citizens in the United States, the country already spends 16 percent of its gross domestic product (GDP) on healthcare. Forecasters estimate that 25 percent of the nation’s GDP will go toward healthcare as the number of senior citizens doubles during the next 20 to 30 years. Barrett said the country’s economy cannot keep pace with the soaring costs of caring for an aging society.