Medicare Trustees Confirm Democrats' Medicare Plan Would Result in 'Actual' 17% Medicare Cut

Thomas Lifson ^ | 6/22/11 | Thomas Lifson

[Nachum]

Further confirmation came today that the GOP must play offense on Medicare, rather than getting trapped into defending the Ryan budget. The status quo is not an option. In testimony before the House Ways and Means Committee today, two Medicare Trustess, Drs. Charles Blahous and Robert Reischauer, confirmed that based on our current path in 2024 there would be "actual" cuts to Medicare at 17%. They also confirmed that Medicare would end itself by 2024 unless actions are taken to save the program.

[Nachum]

Full title: Medicare Trustees Confirm Democrats' Medicare Plan Would Result in 'Actual' 17% Medicare Cut

[RWGinger]

What should piss EVERY American iff is Paul Ryan said this would happen once 0dumbo starting playing around with Medicare numbers to get his f’uked up obamacare to look like it came in at under a trillion.

I wish I could slap every POS voter who voted for this POS 0dumbo

[kabar]

Medicare was destined to go broke with or without Obama. In fact, the HI Trust Fund has been extended 12 years with the Medicare cuts caused by Obamacare. The problem is that the HI Trust Fund is filled with IOUs that must be redeemed by the General Fund. Since 2008, the HI Trust Fund has been redeeming its non-market T-bills to make up the shortfall between revenue from the payroll tax and outgo.

And no one talks about Medicare Parts B and D, which are consuming more and more general revenue. By law, 75% of the costs of Medicare Parts B and D are funded by the general fund. The premiums for those programs only pay for 25% of the costs. And Medicare Parts B and D expenditures together exceed the Medicare Part A costs. i

[RWGinger]

Actually part D has come in under projections every year after the first
and a study done by the highly respected and non partisan National Bureau of Economic Research showed a $1.00 spent in part D saved Medicare over $2.00.

But your main point is correct and no Republican is saying changes don’t have to be made.Didn’t Bush call for changes in 02?and 03 etc?>Why yes yes he did.
All dems are doing is scaring seniors and lying about Ryan’s plan

[fantom]

“Further confirmation came today that the GOP must play offense on Medicare, rather than getting trapped into defending the Ryan budget”. Thats funny ! Gop on offense ! HA .

[Chode]

do I really have to say it???

[Vendome]

YOU LIE!

[kabar]

Actually part D has come in under projections every year after the first and a study done by the highly respected and non partisan National Bureau of Economic Research showed a $1.00 spent in part D saved Medicare over $2.00.

Medicare Part D represents an unfunded liability of $7.2 trillion. 75% of the costs come from the General Fund. The premiums pay only 25% of the costs of the Program. Yes, the costs could be even greater except for the competitive structure of the program. You can still go broke saving money. That's the point.

Medicare is unsustainable period. Ryan's plan essentially privatizes it thru a premium support plan, which is a good thing.