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Title: The NYT is Wrong: Officials Do Not Say That Medicare Is Not Sustainable In Its Current Form
Source: Center for Economic and Policy Research
URL Source: http://www.cepr.net/index.php/blogs ... the_press+%28Beat+the+Press%29
Published: Jul 22, 2011
Author: Dean Baker
Post Date: 2011-07-25 11:23:12 by lucysmom
Keywords: False Prophets og Doom
Views: 18389
Comments: 47

That is what Republicans say. Officials, like the Medicare Trustees, say that the program faces a modest shortfall over its 75-year planning horizon. The projected shortfall is around 0.3 percent of GDP or less than one-fifth of the amount that we increased annual military spending since September 11th. The projected Medicare shortfall is down by more than 75 percent from when President Obama took office due to the cost controls put in place in the health care reform bill.

In fact, the Congressional Budget Office (CBO) calculates that the Medicare system in its current form is far more efficient than the privatized system advocated by Republicans. CBO's projections imply that switching to a privatized system would add $34 trillion to the cost of buying Medicare equivalent policies over the program's 75-year planning period.

This piece also reports that Senator Coburn of Oklahoma wants to reduce the annual cost of living adjustment (COLA) to Social Security to make it more accurate. It is worth mentioning that Senator Coburn is not interested in having the Bureau of Labor Statistics construct an index that actually measures the cost of living of the elderly so that it could in fact be made more accurate. He is instead insisting that Social Security COLAs be based on an index that is known to show a lower rate of inflation.

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Begin Trace Mode for Comment # 1.

#1. To: Badeye, A K A Stone, hondo68, Fred Mertz, Godwinson, go65, war, no gnu taxes, Skip Intro, ferret mike, jwpegler, brian s, mcgowanjm, Capitalist Eric, Mininggold (#0)

In fact, the Congressional Budget Office (CBO) calculates that the Medicare system in its current form is far more efficient than the privatized system advocated by Republicans.

That only makes sense.

lucysmom  posted on  2011-07-25   11:39:44 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 1.

#4. To: lucysmom (#1)

the privatized system advocated by Republicans.

That the GOP thinks it can squeeze more blood from the Bottom 90% Turnip tells you everything.

mcgowanjm  posted on  2011-07-25 12:43:45 ET  Reply   Untrace   Trace   Private Reply  


#7. To: lucysmom (#1)

In fact, the Congressional Budget Office (CBO) calculates that the Medicare system in its current form is far more efficient than the privatized system advocated by Republicans. That only makes sense.

I'm sure it does to you, goofy.

The rest of us, not relying on goverment handouts, see it differently.

Badeye  posted on  2011-07-25 13:46:35 ET  Reply   Untrace   Trace   Private Reply  


#13. To: lucysmom (#1)

n fact, the Congressional Budget Office (CBO) calculates that the Medicare system in its current form is far more efficient than the privatized system advocated by Republicans.

That only makes sense.

Efficient for who? Someone who has to pay taxes for it and doesn't get benefits?

If you are honest with yourself you would admit that it is unconstitutional.

Hint Study Davy Crockett.

A K A Stone  posted on  2011-07-25 23:06:04 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 1.

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