Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

'The [Medicare] Outlook Has Already Improved'
The Economist's View ^ | 11/30/2012 | Laura D'Andrea Tyson

Posted on 12/01/2012 9:45:21 AM PST by ksen

Laura D’Andrea Tyson:

... The single most important factor behind the projected growth in federal spending is the growth in health care spending, driven primarily by the growth in Medicare spending per beneficiary.

The outlook has already improved as a result of significant changes in the delivery and payment of health care services in the Affordable Care Act. As a result of these changes, growth in Medicare spending per enrollee is projected to slow to 3.1 percent a year during the next decade, about the same as the annual growth of nominal G.D.P. per capita and about two percentage points slower than the annual growth of private insurance premiums per beneficiary.

Speeding up the pace of the Affordable Care Act changes along with others, such as reducing subsidies for high-income beneficiaries and drug benefits and introducing small co-pays on home health-care services, would mean even larger Medicare savings.

A “structural reform” popular among Republican deficit hawks like Representative Paul Ryan of Wisconsin to convert Medicare to a premium-support or voucher system would be counterproductive and would drive up both spending per beneficiary and overall costs in the health care system.

The goal of a “go big” plan for deficit reduction should be to ensure the economy’s long-term growth and competitiveness. Yet the debate over spending in Washington is fixated on cutting entitlement spending. Very little is heard about the need to increase federal spending in education and training, research and development and infrastructure, three areas with proven track records in rate of return, job creation, opportunity and growth. ...


TOPICS: Business/Economy; Government; Miscellaneous; Politics
KEYWORDS:
The problem with the budget isn't entitlement spending, it's the subpar GDP growth. Fix that and the other budget problems will mostly fix themselves.
1 posted on 12/01/2012 9:45:24 AM PST by ksen
[ Post Reply | Private Reply | View Replies]

To: ksen
Laura D'Andrea Tyson

Wow! Now there's a name from the grooveyard of forgotten Slick Willie bimbos! A real "blast from the past!"

2 posted on 12/01/2012 9:48:15 AM PST by FlingWingFlyer (Don't tax me bro! Tax that guy over there!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ksen
Herbert Hoover 1929


3 posted on 12/01/2012 9:51:21 AM PST by darkwing104 (Let's get dangerous)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ksen
Fix that and the other budget problems will mostly fix themselves.

Yeah, an annual GDP growth rate of 30%+ oughta' fix things right up. /s

4 posted on 12/01/2012 9:53:19 AM PST by 1rudeboy
[ Post Reply | Private Reply | To 1 | View Replies]

To: ksen

So medicare spending slows to 3.1% a year. What will probably happen is that government spending for non-medicare health care will increase by 10% a year (or more). Exactly how this is supposed to help government deficits is beyond me.


5 posted on 12/01/2012 10:04:17 AM PST by fhayek
[ Post Reply | Private Reply | To 1 | View Replies]

To: ksen

Thanks for posting
This article seems to favor the administration . Anybody know Who Laura Tyson is, and what kind of publication is the The Economist Review ?


6 posted on 12/01/2012 10:06:04 AM PST by mosesdapoet ("A voice crying in the wilderness make streight for the way of the Lord")
[ Post Reply | Private Reply | To 1 | View Replies]

To: ksen

“Very little is heard about the need to increase federal spending in education and training, research and development and infrastructure, three areas with proven track records in rate of return, job creation, opportunity and growth. ...”

The rate a return has proven to be abysmal....


7 posted on 12/01/2012 10:06:55 AM PST by illiac (If we don't change directions soon, we'll get where we're going)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ksen
"What explains Medicare’s sustained cost advantage over private insurance?"<

Her answer is administrative efficiency! She ignores the fact that Congress dials down the reimbursement rates for Medicare and Medicaid services, which simply means health care providers have to raise the rates for private pay covered patients. And she sees that as an advantage in administrative efficiency for Medicare/Medicaid! Ugh.

8 posted on 12/01/2012 10:07:03 AM PST by Wally_Kalbacken
[ Post Reply | Private Reply | To 1 | View Replies]

To: FlingWingFlyer

Laura D’Andrea Tyson is a professor at the Haas School of Business at the University of California, Berkeley, and served as chairwoman of the Council of Economic Advisers under President Clinton.

Berkeley.....says it all....


9 posted on 12/01/2012 10:09:18 AM PST by illiac (If we don't change directions soon, we'll get where we're going)
[ Post Reply | Private Reply | To 2 | View Replies]

To: mosesdapoet

Laura Tyson was one of Clinton’s economic advisors. Touts the Democrat line of economic thought. Unicorns and skittles, if you catch my drift.


10 posted on 12/01/2012 10:09:45 AM PST by fhayek
[ Post Reply | Private Reply | To 6 | View Replies]

To: ksen

As an economist, using the term in its narrow, Stalinist sense, Tyson was always and remains a top down idiot savant who used to speak and write lovingly about the joys and efficiencies of the Romanian economy - yes indeed - until the architect and dear leader of that commie sh*thole slave state - yes, the selfsame Nicky Ceausescu, had an extremely bad day at the office. It seems a lot of Tyson’s encomia abut the wonders of the Romanian economy were, um, at odds with the views of Romanians, who offed Nicky when their misery became untenable. Tyson doesn’t know bugger all about the free market, so it is impossible for her and her fascist ilk to see the divide between the free market and all of the fascist thuggery which is the very essence of Obamacare. Always remember, Obamacare can only be imposed at the point of a gun. For fascists like Tyson, at the point of a gun isn’t coercion, its just a little attitude adjustment for the unenlightened among us.


11 posted on 12/01/2012 10:14:51 AM PST by Bedford Forrest (Roger, Contact, Judy, Out. Fox One. Splash one.<I>)
[ Post Reply | Private Reply | To 1 | View Replies]

To: fhayek

She is basically saying that a new government program will solve the problems created by an old government program. In a few years we will need a newer government program to solve the problems created by THIS government program. Rinse. Repeat.


12 posted on 12/01/2012 10:16:06 AM PST by fhayek
[ Post Reply | Private Reply | To 10 | View Replies]

To: illiac
ROI on infrastructure is meager, though positive, and the history of return in "Education" has actually been negative. However, return on R&D has been huge when done by private equity. It has actually been decent in some parts of the government. Overall, though, this is a prescription for more failure.
13 posted on 12/01/2012 10:18:14 AM PST by FredZarguna (Nothing against Paki's. Just paraphrasing Biden. Or Hillary. Or Both.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: FlingWingFlyer

Oh yeah, the “genius” socialist economist from Smith College, whose doctoral thesis extolled the former Yugoslavia and the Ceaucescu-era Romania for their “activist” economic policy.

That worked out well for the Romanian people, who lived in a feudal society, starving. They eventually revolted, tried mr and mrs. Ceaucescu and shot them on the spot. There is an incredible video on Romania of that day eerily reminiscent of the “showbiz” marxist dictator in waiting we have:

“The King of Communism” http://www.youtube.com/watch?v=Lkm1g82XwTM

And this short one, very moving, from Virginia Prodan:
http://www.youtube.com/watch?v=dFHlc-06f8A

Tyson’s view is that the free market is imperfect and supports increased minimum wage. All of this is in a “centrally managed” economy. This woman is at the height of laughable ridiculousness. A clinton re-tread, teeing up the next ceaucescu in a dress— hillary clinton.

We must resist every ONE of these lying socialist/marxist bastards, with force if neccessary. They are re-selling to a naive stupid populace the same destruction for their own profit and our slavery to the state. History has proven them wrong every time.


14 posted on 12/01/2012 10:18:51 AM PST by John S Mosby (Sic Semper Tyrannis)
[ Post Reply | Private Reply | To 2 | View Replies]

To: illiac

Tyson is a moron. The money that is flushed down the black hole of the Dept. of Ed should be returned to the states where it may do some real good. This shouldn’t even be that too hard of a sell. All one has to do is convince the teachers’ unions they would be better off if we eliminated that big parasite in DC and the states kept their money—more money in the teachers’ pockets.


15 posted on 12/01/2012 10:23:26 AM PST by Conservativegreatgrandma
[ Post Reply | Private Reply | To 7 | View Replies]

To: FlingWingFlyer
“The outlook has already improved as a result of significant changes in the delivery and payment of health care services in the Affordable Care Act”.
When you begin a premise with a lie, you can project an conclusion you want to support the premise.
Taking more of my money and washing it through Washington before giving it to people for “free” health care is improving the outlook how?
Putting more people onto the Medicare rolls while simultaneously forcing doctors and hospitals to accept less for services will have only one effect, they will provide less and less services to “Mediscare” patients. It's already been happening for two decades.
Up until now, those fortunate enough to have private health care insurance and self pay patients have been subsidizing the overall costs.
Obamacare is designed for only two purposes. First it creates a demand for “free” services, and second it's designed to force private insurance companies to go bankrupt and pave the way for commiecare.
16 posted on 12/01/2012 10:31:40 AM PST by bitterohiogunclinger (Proudly casting a heavy carbon footprint as I clean my guns ---)
[ Post Reply | Private Reply | To 2 | View Replies]

To: ksen
What exactly does "the outlook has improved" mean?

Nothing?

Thats what I thought.

17 posted on 12/01/2012 10:33:19 AM PST by skeeter
[ Post Reply | Private Reply | To 1 | View Replies]

To: ksen
"Old people never die, they just get in the way."

The burden is eliminated! We can thank Pelosi for the savings!

Palliative end of life optimum serenity initiative (PELOSI).

"Just give 'em a pill. Don't waste resources." Obamacare.

Also, I did a cursory search and cannot find a source but I do remember clearly that Ms Tyson as Clinton's top economic adviser pushed for a "one time" expropriation of 15 percent of all private retirement funds, the money would be used to help the inner cities among other things.

Now the Rat Party wants 100 percent.

18 posted on 12/01/2012 10:51:40 AM PST by WilliamofCarmichael (If modern America's Man on Horseback is out there, Get on the damn horse already!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: darkwing104

Dr, Laura whatever is on drugs


19 posted on 12/01/2012 10:51:57 AM PST by GeronL (http://asspos.blogspot.com)
[ Post Reply | Private Reply | To 3 | View Replies]

To: ksen
A “structural reform” popular among Republican deficit hawks like Representative Paul Ryan of Wisconsin to convert Medicare to a premium-support or voucher system would be counterproductive and would drive up both spending per beneficiary and overall costs in the health care system.

Of course! Can't everyone see that competition drives up costs in the free market?

Only State-imposed monopolies are efficient. Look at the DMV, the Post Office, or the VA. It's hard to imagine anything better.

Man, are Rethuglicans stupid!

/s

20 posted on 12/01/2012 10:57:30 AM PST by St_Thomas_Aquinas (Viva Christo Rey!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: WilliamofCarmichael
Also, I did a cursory search and cannot find a source but I do remember clearly that Ms Tyson as Clinton's top economic adviser pushed for a "one time" expropriation of 15 percent of all private retirement funds, the money would be used to help the inner cities among other things.

IIRC, that particular episode of Clintonian fascist greed was also flogged heavily by another of Clinton's Fantasy Island 'economists', [a towering figure in his own mind,] Robert Reisch[schschsch], known to his friends as Tentpeg.

21 posted on 12/01/2012 11:03:36 AM PST by Bedford Forrest (Roger, Contact, Judy, Out. Fox One. Splash one.<I>)
[ Post Reply | Private Reply | To 18 | View Replies]

To: ksen

great..so, where you going to find a doctor to take on any or any more Medicare patients ?


22 posted on 12/01/2012 11:39:34 AM PST by stylin19a (obama -> Fredo smart)
[ Post Reply | Private Reply | To 1 | View Replies]

To: John S Mosby
A clinton re-tread, teeing up the next ceaucescu in a dress— hillary clinton.

Yup! Another commie loser jockeying for position in the 2016 Hillary Clinton regime.

23 posted on 12/01/2012 11:43:29 AM PST by FlingWingFlyer (Don't tax me bro! Tax that guy over there!)
[ Post Reply | Private Reply | To 14 | View Replies]

To: illiac
Laura D’Andrea Tyson ... served as chairwoman of the Council of Economic Advisers under President Clinton.
She also spent many years on the board of Kodak.


24 posted on 12/01/2012 12:08:43 PM PST by oh8eleven (RVN '67-'68)
[ Post Reply | Private Reply | To 9 | View Replies]

To: ksen
The outlook has already improved as a result of significant changes in the delivery and payment of health care services in the Affordable Care Act. As a result of these changes, growth in Medicare spending per enrollee is projected to slow to 3.1 percent a year during the next decade,

Take half a trillion dollars away from Medicare in the Obamacare shell game and suddenly Medicare costs less. At least until doctors refuse to take Medicare patients because of unacceptably low reimbursement rates.

25 posted on 12/01/2012 1:37:23 PM PST by KarlInOhio (Big Bird is a brood parasite: laid in our nest 43 years ago and we are still feeding him.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: skeeter

The outlook improved because they closed their eyes.


26 posted on 12/01/2012 3:24:47 PM PST by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
[ Post Reply | Private Reply | To 17 | View Replies]

To: fhayek

When FRs post what is essentially propaganda. Questioning who the author is and the medium used is the point of my posting.Rather than just rendering a opinion. That background fill in offers legitimate counter punching by FR reviewers if in the course of human events the topic and its author comes up in any conversation ...thus adding value of FR’s.


27 posted on 12/01/2012 4:06:46 PM PST by mosesdapoet ("A voice crying in the wilderness make streight for the way of the Lord")
[ Post Reply | Private Reply | To 10 | View Replies]

To: ksen

translation: They are screwing the doctors with lower payments.

The result will be fewer doctors willing to see the elderly of course...especially since the paperwork required to get paid costs almost as much as one is reimbursed...and to do a good evaluation of the elderly takes a lot more time, but if you bill for the time you spent, you can be jailed for fraud/overbilling.


28 posted on 12/01/2012 4:48:16 PM PST by LadyDoc
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson