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Both of those are most definitely problems - Medicare the bigger of the 2, SS will eventually fix itself as the demographic wave of the Babyboomers passes. There is nothing really wrong with the way SS is funded. It's problems are really just temporary. Medical cost issues still need to be resolved however.
Ken
Ken-
How can these medical cost issues be resolved?
1. We just added 30-40 million new patients at a cost of $1.3-$3.2 trillion over ten years.
2. No one has ever been able to cut this massive "waste" that is purported in the Medicare system, despite very agressive efforts by the feds over the last thirty years to prosecute fraud
3. If the 21% medicare cut to specialists goes through, as planned, specialists will just stop seeing medicare patients
4. There are no controls under Obama care to curb price increases. As a matter of fact, premiums are expected to increase. Further, there are no price controls in place for drugs or medical devices.
What will happen? Massive increase in healthcare costs. The "payment" of $500 billion to Obama care by cutting Medicare will never happen. No politician is willing to take that political risk. Therefore, the $500 billion is just another added expense to a system that is destined to go broke anyway. Obamacare was just throwing a lead "life preserver" to the two drowning men of Social Security and Medicare.
How can these problems be avoided?
1. Massive spending cuts
2. Marked increase in taxes
No it's you wigglling out of your B.S...You're real slippery.
So you've gone from "belly up" to "not meeting it's obligation"
Now what does that mean in real terms?
It means benefits will be reduced by 20%......Your B.S doesn't fly here.
Belly up.....LOL
Perhaps you had a little trouble with reading comprehension in school. Again, the CBO states that by 2017 medicare will be unable to meet its obligations. By 2037, the CBO estimates that Social Security will be unable to meet its obligations. This was prior to the additional financial burden of Obamacare.
Social Security: Facing the Facts (http://www.socialsecurity.org/pubs/ssps/ssp3.html - broken link)
I guess if you can't understand this, I cannot be any more clear and you should perhaps read the links. They are pretty straightforward.
1. We just added 30-40 million new patients at a cost of $1.3-$3.2 trillion over ten years.
2. No one has ever been able to cut this massive "waste" that is purported in the Medicare system, despite very agressive efforts by the feds over the last thirty years to prosecute fraud
3. If the 21% medicare cut to specialists goes through, as planned, specialists will just stop seeing medicare patients
4. There are no controls under Obama care to curb price increases. As a matter of fact, premiums are expected to increase. Further, there are no price controls in place for drugs or medical devices.
What will happen? Massive increase in healthcare costs. The "payment" of $500 billion to Obama care by cutting Medicare will never happen. No politician is willing to take that political risk. Therefore, the $500 billion is just another added expense to a system that is destined to go broke anyway. Obamacare was just throwing a lead "life preserver" to the two drowning men of Social Security and Medicare.
How can these problems be avoided?
1. Massive spending cuts
2. Marked increase in taxes
Let's see the politicians do either.
Oh, I'm not going to argue that costs are not a problem. They WERE a problem and they still ARE a problem.
1) Regarding the extra "just added 30-40 million new patients at a cost of $1.3-$3.2 trillion over ten years" - well, do you REALLY think that those people were NOT going to cost us that ANYWAY? People without medical coverage usually wait until it's a crises to seek medical care - resulting in HIGHER COSTS than if they'd have had coverage and thus pursued medical care earlier. The way I see it, adding those people in really ends up LOWERING costs over the long run.
2, 3 & 4) Problems yet to be resolved to be sure. The new health care bill does NOT do everything it needs to do, but the fact is, it addresses SOME of the problems. Getting everything addressed at once was SIMPLY NOT going to happen - so we'll take what we can get right now. Still LOTS of work to do on this issue.
1. We just added 30-40 million new patients at a cost of $1.3-$3.2 trillion over ten years.
2. No one has ever been able to cut this massive "waste" that is purported in the Medicare system, despite very agressive efforts by the feds over the last thirty years to prosecute fraud
3. If the 21% medicare cut to specialists goes through, as planned, specialists will just stop seeing medicare patients
4. There are no controls under Obama care to curb price increases. As a matter of fact, premiums are expected to increase. Further, there are no price controls in place for drugs or medical devices.
What will happen? Massive increase in healthcare costs. The "payment" of $500 billion to Obama care by cutting Medicare will never happen. No politician is willing to take that political risk. Therefore, the $500 billion is just another added expense to a system that is destined to go broke anyway. Obamacare was just throwing a lead "life preserver" to the two drowning men of Social Security and Medicare.
How can these problems be avoided?
1. Massive spending cuts
2. Marked increase in taxes
Let's see the politicians do either.
Silly rabbit tricks are for kids....the "additional cost is $411 Billion" the rest is paid for by shifting funds from present day programs.
That's an expansion of our 3000 Billion per year Federal budget by 1.37%
All of this is paid for by taxing households earning $350K or ($250K I don't remember)
The revene from this more than pays for the program so much so, that the additional difference is significantly lowering the deficit....LOL
Perhaps you had a little trouble with reading comprehension in school. Again, the CBO states that by 2017 medicare will be unable to meet its obligations. By 2037, the CBO estimates that Social Security will be unable to meet its obligations. This was prior to the additional financial burden of Obamacare.
Social Security: Facing the Facts (http://www.socialsecurity.org/pubs/ssps/ssp3.html - broken link)
I guess if you can't understand this, I cannot be any more clear and you should perhaps read the links. They are pretty straightforward.
Well, as I said, SS is a problem - but one that will eventually fix itself as us Babyboomers pass away. In years past we PUMPED a LOT of money INTO SS because we were such a huge demographic wave. Now we are entering the time in which we will DRAW a LOT of money FROM SS. Such is the nature of any such demographic wave. It will cause problems for SS to be sure, but those problems will pass as we do. Nothing intrinsically wrong with the system.
Gee, when the Dow was down nearing the 6K mark all the RW squawkers on the AM band were blaming Obama. The other day, President Obama even remarked: "How come it's not my Stock Market now?"
it's our market,our taxes are what is moving the market up!
it will be obumma's fault when the market goes back to 5k soon.
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People without medical coverage usually wait until it's a crises to seek medical care - resulting in HIGHER COSTS than if they'd have had coverage and thus pursued medical care earlier. The way I see it, adding those people in really ends up LOWERING costs over the long run.
Stock Market Hates Obama
strange...
