Skip to comments.Medicare funding runs short by 2024, trustees say
Posted on 04/23/2012 3:17:14 PM PDT by KantianBurke
NEW YORK (CNNMoney) -- Highlighting the fiscal problems posed by growing health costs and an aging population, the trustees of Medicare estimated Monday that the program will only be able to pay a portion of promised benefits starting in 2024. That's the same year the trustees had estimated a year ago.
Every year the Medicare trustees, who also oversee Social Security, release an annual report on both programs' long-term financial outlook. Unless Congress makes changes to Medicare, or overall health costs come down, Medicare will only be able to pay 87% of expected costs by 2024 and 67% by 2050.
Put another way, if lawmakers wanted to make the program solvent over the next 75 years, they would need to raise the 2.9% Medicare tax on all wages to 4.25%.
(Excerpt) Read more at money.cnn.com ...
I am beside myself with shock.
Nothing the old Bufffet rule couldn’t fix! *rolleyes*
The sad truth is, about half the country simply doesn’t care. They don’t care about any of these mid/long term disasters awaiting us. They simply do not care. As long as they get their money right now and can live for the moment on other people’s dime, roughly 50% of what we call the American public doesn’t give a darn about stuff like this.
Scr** me know...scr** me later..but don't tell me this was a solution.
ELECTION year time for threats..
always try to scare the old folks..right now the things that make me scared is the cost of fuel, gasoline, and food to survive and the threat that we won’t be allowed to have a ‘home garden’..
VOTE HIM OUT IN NOVEMBER FRIENDS.
Shut it down. Give back the money to “free” people who were FORCED to pay into it. Apologize to them.
Otherwise, like all other happy-faced, socialist-schemes, it will remain solvent via an increase in dead Americans...specifically seniors.
You mean create more Baraqqi/Bernanke minibucks?
Good point. Shut it down. Stop confiscating money from free people.
“Above all, if you wish to be strong, begin by rooting out every particle of socialism that may have crept into your legislation. This will be no light task.” - Bastiat
“All these plans as a whole with their common aim of legal plunder constitute socialism.” - Bastiat
“Do not listen to this sophistry by vested interests. The acceptance of these arguments will build legal plunder into a whole system. In fact, this has already occurred. The present-day delusion is an attempt to enrich everyone at the expense of everyone else; to make plunder universal under the pretense of organizing it.” - Bastiat
I agree with everything that you said except that we are a free people. It’s been decades since that was true, if really it ever was.
Obama is preparing a nasty surprise for seniors. He is going to destroy their Medicare Advantage plans, but they won’t find out about it until after the election. Then they will be stuck in a purely socialist, government health care system. Hope the AARP likes that.
Agree 100%, Pining_4_TX. Thanks for posting.
Speaking of Medicare Advantage...have you seen the latest tactic...
Thanks to FReeper jazusamo for posting.
Tactics of Totalitarians BUMP!