Medicaid Spending Slows as States Cut Physician Reimbursement

And if doctors all drop out, costs will plummet!

Growth in Medicaid spending hit a "near record low" in 2012.

Let me repeat that. Spending in the massive entitlement program known for eating up large chunks of state budgets to provide health coverage to more than 50 million poor and disabled Americans has slowed, according to an annual survey of states released last week by the Kaiser Family Foundation.

Total Medicaid spending increased 2 percent on average across all states this year, down from 9.7 percent the year before. Kaiser analysts said it "among the lowest rates of spending growth ever recorded," noting that in 2006, spending grew by only 1.3 percent.