• News
  • Celebrities
  • Finance
  • Crypto
  • Travel
  • Entertainment
  • Health
  • Others

Just in Time for the Health Reform Debate…

… comes a report (pdf) that finds Medicare’s hospital fund will go broke sometime in 2017 — two years earlier than analysts reported just a year ago. The projections for Social Security are much better, with the trust fund for the elderly expected to dry up in 2037.

Not that any of this comes as a surprise. Congress has faced the looming Medicare crunch for years, only to punt any major reforms to another day. This year, though, might be different. President Obama has made comprehensive health care reform a top priority, and he’s putting heaps of political capital toward the cause. Indeed, everyone from Sen. Charles Grassley (R-Iowa) to the American Association of Retired Persons is tossing out press releases right now pointing to the new Medicare insolvency numbers as a rallying cry for a sweeping health care overhaul in 2009.

Here’s AARP:

Medicare’s accelerating insolvency is largely a result of two problems — an economic recession that is increasing demand on public health programs while lowering revenues, and skyrocketing costs throughout the health care system — that will only be fixed by comprehensive reform in 2009.

And here’s Grassley:

Kicking the can down the road isn’t an option anymore because we’re at the end of the road. Necessary policy reforms to add efficiency and improve Medicare’s fiscal health without cutting benefits will take time to implement. If Congress waits, the savings from those changes won’t materialize until after the program becomes insolvent. At that point, the only options would be cutting provider payments, reducing benefits, or raising payroll taxes.

Doing these things, though, will be a Herculean task. Americans are projected to spend $2.6 trillion on health care this year — a figure that’s projected to grow at a much quicker clip than the rest of the economy in the coming decade. And despite a recent pledge from some of the largest medical industries to trim their costs, there’s not a player in the health delivery system that really wants to take a pay cut. On top of everything else, the short term expense to overhaul the health care system will be tremendous. Even if those changes are made in the name of long-term savings and stability, they could be a tough sell among lawmakers who’ve already got a bitter taste after allocating hundreds of billions of (borrowed) dollars to prop up the ailing economy.

Whoever said it’s good to be the king wasn’t in Obama’s shoes.

Discussion & Comments (0)

    Recent Articles

    • Things You Should Know about North America

      Things You Should Know about North America

      Get to know more about North America.

    • Eurovision 2010 Paula Seling Unpredictable Contest

      Eurovision 2010 Paula Seling Unpredictable Contest

      Paula Seling's experience on the Eurovision stage led her to declare that "Eurovision is an unpredictable contest". Which may explain the success of the young Lena from Germany, about whom the predictions before the event did not offer much chances for victory.

    • VIPRow.me - The Best Sports Streaming Website Today

      VIPRow.me - The Best Sports Streaming Website Today

      Have you ever contemplated creating a user-friendly site dedicated to sports-related free live streaming channels?

    • Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      XNXUBD 2022 Nvidia users are able to watch thousands of videos and other contents online. XNXUBD 2022 Nvidia New is a piece of software that enables people to watch videos online without having to pay for memberships. On a graphics card, the XNXubd also provides some of the best gaming and virtual reality experiences.

    • Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      A new edition of the Video Editor Apk for xVideostudio.Video Studio has all the latest features, including support for multiple video download formats in HD, FHD, and even 4K resolutions.

    • 9 Best Lotion For Masturbation - Popular Choice For 2022

      9 Best Lotion For Masturbation - Popular Choice For 2022

      Masturbation is a common activity for men and women. It's a natural and risk-free way to explore your body, experience pleasure, and release sexual tension.

    • Reasons Why You Need To Stop Watching Movies From Sflix

      Reasons Why You Need To Stop Watching Movies From Sflix

      Without having to sign up or pay anything, you can watch movies online for free with SFlix. It has more than 10,000 movies and television shows.

    • Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Collins (born May 11, 1997) is a rapper from the United States. Leray started publishing songs to SoundCloud in 2014, and in 2018 she released her breakthrough track "Huddy" as well as her first mixtape, Everythingcoz.

    • Listen And Download Music On MyFreeMP3 For Free

      Listen And Download Music On MyFreeMP3 For Free

      Are you in a bind and looking for a place to obtain free mp3 songs? Never again will you need to bother, since this article has everything necessary to obtain your solution. Download free music from MyfreeMP3.com, one of the world's most popular websites.