John Goodman, FloydReports.com
While charges and counter-charges about Medicare are flying back and forth in Washington, hardly anyone seems to have noticed that Medicare’s financial problems have already been solved. They were solved by the health reform bill enacted last year, what some people call ObamaCare.
So why isn’t this front page news? Why aren’t people dancing in the street? Why isn’t the Obama administration boasting about this accomplishment far and wide? Probably because Medicare’s financial problems are slated to be solved by the unconscionable rationing of health care for the elderly and the disabled.
The most recent Medicare Trustees report conveys the same message as the last one: On the day that Barack Obama signed the health reform bill, Medicare’s long-term unfunded liability fell by $53 trillion. That sum is about three times the size of the entire U.S. economy. And, it gets better. Once the Baby Boomers work their way through the system, Medicare spending will grow no faster than the payroll taxes, premiums and general revenue transfers that pay for that spending.
So what does this mean for senior citizens who rely on Medicare?….
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