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The first essential question is; do you need an exam by a doctor and investigations for blood in spit. The answer is yes.
The second question is; does it point to something serious. The answer it; majority of times it is due to just erosion of the throat, due to infection or even due to acid reflux. It is not always due to cancer or some significant chronic infection like tuberculosis.
You may need a course of antibiotic for the cough and this can be due to bronchitis.
Following measures are recommended:
1) Adequate rest / bed rest if symptoms are severe.
2) cough suppressants such as codeine and dextromethorphan.
3) ipratropium bromide
6) Occasionally antibiotics may be prescribed.
7) Zinc supplement; this increases the body immunity.