GREENSPAN:MEDICARE'S DANGEROUS (filled with costs to put the US in "very serious state")

NY POST ^ | 5/20/06 | LOIS WEISS

[Liz]

Former Federal Reserve boss Alan Greenspan yesterday labeled Medicare the largest looming problem facing the US and said it was "very dangerous" to the nation's economic health.

Speaking at a gathering of real estate executives ......the venerable banker knocked oil estimates and declared the housing boom "over", hedge funds will go belly up and declared immigrants with Ph.D.s in science or math should automatically get green cards.

He also said the biggest problems facing the U.S. were "political," advising that Medicare costs by 2025 would cause an "unstable equilibrium" of debt, interest rates and deficits........a "highly unstable situation" and a "very dangerous" one, filled with costs that would put the U.S. in "very serious state."

[Liz]

.....biggest problems facing US were "political," Medicare costs by 2025 would cause an "unstable equilibrium" of debt, interest rates, deficits........

That's right, Washington, keep buying votes with entitlements----keep giving the store away to every hyphenated group that cries "gimme."

[Gay State Conservative]

Anyone who's 55 or younger,has worked for a living and is counting on a retirement that's as generously "funded" by the Federal government as was their parents' is in for a very rude awakening in about 10-15 years.

Senators,Congressmen,government employee union members and welfare recipients,OTOH,have nothing to worry about.

Does anyone really think it's a coincidence that the US Congress and at least some state governments and government employee unions don't participate in Social Security system?

[sheana]

Medicare - It's not just for citizens anymore!

[Cinnamon]

but but what about universal healthcare? what will the children do? *cry*

those illegals are such a huge burden on the California Medical program... they are running our total bills on the billions range

[nmh]

" ... declared immigrants with Ph.D.s in science or math should automatically get green cards."

Unlike Bush, who wants the bottom of the barrel ... he sees the need for HIGHLY educated and SKILLED people for jobs Americans CAN'T do.

[staytrue]

Medicare - It's not just for citizens anymore!

you are wrong

Medicare is exclusively for elderly US citizens.

Medicaid is for poor people. Medicaid costs the US slightly less than medicare but are roughly equal to a first approximation.

[stopem]

Exactly!

All of a sudden Greenspan decides entitlements are "dangerous"?

No what is ACTUALLY putting us in a "very serious state" are the billions in entitlements spent on illegals!

[WideGlide]

My Father-in-law worked at an agency of the US Foreign Service before retiring. Within 2 short years he was collecting more in pension than he made in salary his last year of work. Nice work if you can get it.

[sheana]

I know the difference between Medicaid and Medicare. Just wait til those millions of "new" citizens are legalized with chain migration (mamas, papas, aunts, uncles) and just see if Medicare is just for America's elderly. Of course by then they will all be American citizens so.....why worry?

[stopem]

Before age 65, you are eligible for free Medicare hospital insurance if:

You have been entitled to Social Security disability benefits for 24 months; or

You receive a disability pension from the railroad retirement board and meet certain conditions; or
You have Lou Gehrig’s disease (amyotrophic lateral sclerosis); or
You worked long enough in a government job where Medicare taxes were paid and you meet the requirements of the Social Security disability program; or

You are the child or widow(er) age 50 or older, including a divorced widow(er) of someone who has worked long enough in a government job where Medicare taxes were paid and you meet the requirements of the Social Security disability program.
You have permanent kidney failure and you receive maintenance dialysis or a kidney transplant and:
You are eligible for or receive monthly benefits under Social Security or the railroad retirement system; or
You have worked long enough in a Medicare-covered government job; or
You are the child or spouse (including a divorced spouse) of a worker (living or deceased) who has worked long enough under Social Security or in a Medicare-covered government job.

Medical insurance (Part B)
Anyone who is eligible for free Medicare hospital insurance

(Part A) can enroll in Medicare medical insurance (Part B) by paying a monthly premium.


If you are not eligible for free hospital insurance, you can buy medical insurance, without having to buy hospital insurance, if you are age 65 or older and you are—

A U.S. citizen; or
A lawfully admitted noncitizen who has lived in the U.S. for at least five years.

[sheana]

and.....Social Security disability payments (SSI/SSP) is nothing but a gigantic welfare program administered by Social Security Administration. There are no requirements of ever having to work one day or earn one dime to qualify for it.

[traviskicks]

.....biggest problems facing US were "political," Medicare costs by 2025 would cause an "unstable equilibrium" of debt, interest rates, deficits........

Gosh darnit, we keep having all these 'political problems'!





Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.

[pleikumud]

Social Security, Medicare and Medicaid are all socialism. They will destroy America unless completely dismantled. They are time bombs. There will never be enough taxpayers to pay for all the medical care (and other things) people want for nothing.

[Brilliant]

The solution to medicare is the same as the solution to healthcare generally--more doctors.

[traviskicks]

"My grandparents' generation thought being on the government dole was a disgraceful, a blight on the family honor. Today's senior citizens blithely cannibalize their grandchildren because they have a right [to as much] 'free' stuff as the political system will permit them to extract."
- CA Justice Janice Rogers Brown

[ex-Texan]

He is incorrect as usual. The immediate threat to our economy comes from all those exotic loans he recommended people use in order to purchase homes. For three years, lenders have approved mortgages for people based on a signed statement of annual income (no verification required). 29% of people buying homes in 2005 owe more money than the value of the property! That is based on reports through the first quarter of 2006. Wait until the second quarter. Foreclosures are stacking up all across the U.S.

[traviskicks]

The solution to medicare is the same as the solution to healthcare generally--more doctors.
---

I disagree, I think it is less government. :)
(which will equal more docs)

[Brilliant]

I would go for that.

[Doogle]

..anyone wanna guess where....or I should say who pays for long term care for an illegal who happens to wind up in a hospital for over a month?
(all those who saw FOX earlier,can't guess)


Doogle

[Hardastarboard]

immigrants with Ph.D.s in science or math should automatically get green cards

BUT NOT IMMIGRANTS WITH PhD's in "social sciences". We don't need any more Noam Chomsky's destroying our country from within.