Vail Daily letter: Unsteady programs
Vail, CO, Colorado
More misinformation from David Levine.
In support of Obama’s health care program, he said, “We already have successful government-administered health programs for the elderly called Medicare and Medicaid.”
In May, the Medicare trustees issued a report indicating that this program will be insolvent by 2017, two years earlier than previous estimates. That’s eight years from now.
Even some liberals acknowledge the problem.
Henry Aaron, an economist with the left-wing Brookings Institution, said: “In the end, there’s going to be a lot of huffing and puffing and some genuine savings from changes in Medicare, but there is no way to balance Medicare without significant increases in taxes.” (Wall Street Journal, May 13.)
It’s the same story with Medicaid. For details, Google “Medicare and insolvency” or “Medicaid and insolvency.”
But there is brighter news: The Social Security trustees issued a report at the same time, predicting that their program won’t be insolvent until 2037.
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