"In 1997, a consortium that included the AAMC, the AMA, and other major organizations declared that [...] 'the United States is on the verge of a serious oversu

"In 1997, a consortium that included the AAMC, the AMA, and other major organizations declared that [...] 'the United States is on the verge of a serious oversupply of physicians'. The consortium recommended limiting the number of residency positions funded by Medicare, a goal that was partially achieved in the Balanced Budget Act of 1997" [1] See also the 1997 senate finance committee hearings on graduate medical education [2]. [1] http://annals.org/aim/fullarticle/717927 http://annals.org/aim/fullarticle/717927 [2] https://www.finance.senate.gov/imo/media/doc/hrg105-901.pdf https://www.finance.senate.gov/imo/media/doc/hrg105-901.pdf