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US: Medicare to hit financial woes sooner than expected

donsutherland1

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From MSNBC:

Two of the government's most popular programs for the elderly, Medicare and Social Security, are set to run out of money sooner than projected a year ago, according to a government report on Friday that ratchets up pressure to find a long-term fix for the U.S. budget...

Their annual report said Medicare will exhaust its funds in 2024 rather than in 2029, reflecting rapidly rising health care costs. They said Social Security will exhaust its reserves in 2036, a year earlier than forecast a year ago.

US: Medicare to hit financial woes sooner - Politics - More politics - msnbc.com

This latest news provides additional support for reforming the programs so as to make them actuarily and financially sound.
 

tessaesque

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I'm not sure we should had needed "additional support". When we're $1trillion or more over budget every year, several years in a row it's kind of hard to say we actually have the money to cover any of the programs we're providing or services we're offering through the Fed.
 

Renae

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From MSNBC:



US: Medicare to hit financial woes sooner - Politics - More politics - msnbc.com

This latest news provides additional support for reforming the programs so as to make them actuarily and financially sound.

They can never be made financially sound. The system needs to be dismantled, not "reformed". It was created by politicians making promise with our generations money, our children's money, and our grandchildren to be's future in return for votes from a selfish lazy populace.
 

cpwill

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they can be reformed in a way to make them individually based and thus self-financing.
 

pbrauer

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Whovian

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This is undoubtedly due to the Republicans Medicare Part D legislation which prevents Medicare to negotiate drug prices like the Veterans Administration does.

It's always the other guys fault, huh. Especially for liberals like you.
 

reefedjib

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This is undoubtedly due to the Republicans Medicare Part D legislation which prevents Medicare to negotiate drug prices like the Veterans Administration does.


Yeah, undoubtedly....
 

donsutherland1

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This is undoubtedly due to the Republicans Medicare Part D legislation which prevents Medicare to negotiate drug prices like the Veterans Administration does.

Medicare Part D clearly exacerbated an already bad long-term situation, adding to imbalances that were already enormous. IMO, rather than worrying about who was responsible for what aspect of Medicare's problems, today's policymakers should have the courage to make the choices necessary to begin to fix the program. The sooner that effort begins, the less difficult achieving the desired results will be. Right now, though, I don't believe a sincere discussion on Medicare is likely. Instead, the parties will make their positions known, but the difficult political negotiations to devise new policies will very likely not be undertaken until after the 2012 election, if not later. In the meantime, if the findings of the recent Washington Post poll persist, the American people will generally oppose any changes to the program even as its financial situation grows more dire.
 

Blue Dog

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Another reason why I do not trust the national government to run things. Usually the programs run into financial ruin.
 

cpwill

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Except of course, for that aforementioned Medicare part D, which - because it utilized market forces and competition - is the only such Government program in our history to come in at 40% under projected costs :D
 

Councilman

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Sorry to report Obama care will only cost us all even more and contribute to destroying our economy more then Obama has done so far.


The medical community is in need of sensible logical reform that addresses the real problems, like malpractice reform.
 

donsutherland1

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Except of course, for that aforementioned Medicare part D, which - because it utilized market forces and competition - is the only such Government program in our history to come in at 40% under projected costs :D

Although, Part D may be less bad than Parts A and B with respect to long-term imbalances, it is still bad. It has a perpetual horizon $17.2 trillion unfunded liability, which exceeds the $13 trillion Social Security imbalance. That Part D's enormous unfunded Liability is half of those associated with Parts A and B doesn't take away from its playing a substantial part in the nation's long-term fiscal situation. IMO, it was a strategic error to adopt Part D in its current underfunded form, especially when the rest of the Medicare program was in such bad long-term shape.
 

cpwill

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Oh, agreed that it's still unfunded, and still very much not a net benefit for our national fisc. I simply think the fact that it came in so incredibly under budget should serve us as an impressive example of the power of putting market pressure on the healthcare/insurance industry - and provides us with an example of a structure that we can use in the future to reduce healthcare costs and expenditures.
 

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1. the entire intent and purpose of obamacare was to address this chronically adverse cost trajectory, instead we're 5 years worse

2. it's been almost exactly two years since the party in power, in the white house and the senate, even proposed an itemized budget---in times like these

3. republicans, say what you will, passed hr1 in february and reid's senate as well has been sitting on ryan's proposal, showing no sign of movement up nor down nor sideways

4. there's a reason the party of pelosi can't put pen to paper and therefore never will, think about it

5. hint---listen to everything kent conrad has to say

6. so far, all you'll hear, and there's precious little, is angst

7. search "conrad" at politico, you'll see

8. america is beginning to perceive very clearly that the disposition of this govt pertaining to budgets is one of permanent paralysis

9. america sees we're in crisis, america yearns for leadership, that's gonna require a change at the top

10. if something isn't done imminently to fundamentally restructure our budgets our big 3 social programs (as well as state pensions) will soon cease to exist in their current forms

no spin, wynn
 

The Prof

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today:

The Catholic Church is weighing in on the contentious House budget debate.

The president of the U.S. Conference of Catholic Bishops sent Budget Committee Chairman Paul Ryan a letter yesterday commending his "continued attention" to Catholic social justice “in the current delicate budget considerations in Congress.”

"The budget is not just about numbers,” Archbishop Timothy M. Dolan wrote in the letter. “It reflects the very values of our nation. As many religious leaders have commented, budgets are moral statements."

In the two-page letter, Dolan did not come out and expressly endorse the budget, insisting that he’s a pastor, “not a politician.”

But he praised Ryan’s attention to fiscal responsibility, the role of the family, the dignity of the person and human life and attention to the poor.

The letter also clearly disputes one of the chief rallying cries against the budget: That it would hurt the poor to benefit the rich.

“In any transition that seeks to bring new proposals to current problems in order to build a better future, care must be taken that those currently in need not be left to suffer,” Dolan wrote. “I appreciate your assurance that your budget would be attentive to such considerations and would protect those at risk in the processes and programs of such a transition. While appreciating these assurances, our duty as pastors will motivate our close attention to the manner in which they become a reality.”

Paul Ryan gets boost from Catholic bishops - Jennifer Haberkorn - POLITICO.com
 

DemonMyst

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It was created by politicians making promise with our generations money, our children's money, and our grandchildren to be's future in return for votes from a selfish lazy populace.

So?? Selfish and lazy is what you call people that have worked all their lives and are not retired.. What will we get to call you?? You would be wise to not insult the american people.. Your not making any points in arguement.. Except of course showing us all who really is selfish and lazy..
 
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cpwill

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what would you call taking the easy way out and writing a humongous check and making it chargeable to your children, in order to keep unsustainable entitlements for yourself?
 
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