A new government report on medical costs paints a stark picture for President Barack Obama, who is expected to call for a health care overhaul in a speech Tuesday night to a joint session of Congress.

Health spending will hit $2.5 trillion this year, devouring 17.6 percent of the economy, as the White House and Congress consider major changes to the healthcare system, U.S. government economists said on Tuesday.

Automaker convinces unions to take equity instead of cash for funding future health plans.

WASHINGTON — President Barack Obama will convene a White House meeting next week to address runaway health-care costs. On Monday he called it key to reining in federal spending as he tries to balance plans to spend the country out of recession with shoring up its long-term fiscal health.

President Barack Obama announced Monday a bipartisan summit next week for policymakers and legislators to discuss reforms to fix the nation's ailing health care system.