The Humble Libertarian

Building a small army to take over the world and... leave everybody alone.


Saturday, April 14, 2012

Ducking the Crisis in Medicare

A former Obama Administration official discloses the big fraud in Obamacare funding. The politicians hate, really hate, ever bringing up the hugely expensive sacred cow known as Medicare because seniors as a voting block vote in enormously high percentages. The great flaw in Obamacare funding is that 65% of the cost of this totally insane program was legislated to be derived from cuts in Medicare (something nobody is supposed to know).
About 65 percent of the cost of the Obama health care law is supposed to be met by Medicare expense reductions and tax increases totaling roughly $1 trillion over 10 years..... Thanks to escalating health care costs and repeated sweetening of benefits without commensurate increases in revenues, Medicare was underfinanced by a staggering $37 trillion as of Sept. 30. That’s the amount — about two and a half times the annual output of the United States economy — that would have to be deposited into the Medicare trust funds to adhere to the principle that members of each generation would contribute enough to Medicare while they were working to pay for their care after age 65. But the politics of Medicare have been poisonous, so toxic that Democrats haven’t been willing to engage seriously on the issue...
The New York Times 




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