NYTIMES: MEDICARE WILL BE INSOLVENT IN 2017

NYTIMES: Insolvency for Social Security and Medicare Is Seen Closer

The financial outlook for Medicare and Social Security has significantly worsened, as the bad economy and mounting job losses have pushed both programs years closer to insolvency, according to a grim report issued Tuesday by the Obama administration.

The new projection, in an annual report from the programs’ trustees, says that Medicare’s hospital insurance trust fund will be exhausted in 2017, just a year after President Obama would leave office if re-elected to a second term.

Last year the trustees said they expected the fund to last until 2019. ...

The two programs, which serve more than 50 million people, are caught in a difficult dynamic linked largely to the recession: Millions fewer people are working and paying the taxes that support the programs; yet health care costs are continuing to soar, millions of baby boomers have begun receiving Social Security retirement benefits, and Americans are living longer.

Medicare expenses are now expected to surpass Social Security’s in 2028.

RTWT.

I RAN INTO AN OL' LEFTIE PAL WHO JUST QUALIFIED FOR MEDICARE AND WAS RAVING ABOUT IT.

• THE LOON. AS IF HE WAS GETTING FREE CARE!
• I GUESS HE FORGOT HE'S BEEN PAYING IN FOR FORTY YEARS.
• HE'S A HEALTHY GUY - WHO WILL LIVE A FEW DECADES BEYOND THE DATE WHEN MEDICARE GOES BELLY UP.
• LIKE THE REST OF US, HE'D A BEEN BETTER OFF PUTTING ALL HIS MEDICARE TAX DOLLARS AND MUCH OF HIS HEALTH INSURANCE PREMIUMS INTO A MEDICAL SAVINGS ACCOUNT.
• HE REFUSES TO LISTEN TO MY ARGUMENTS AGAINST NATIONALIZED HEALTH AND MEDICARE.
• BECAUSE HE'S A DUPE WHO REFUSES TO LISTEN TO THE CONSERVATIVES ANY ISSUES.
• LIKE A JUROR WHO REFUSES TO HEAR THE DEFENSE CASE AND YET STILL MAINTAINS HE CAN RENDER A JUST VERDICT.
• LIKE IDIOTS WHO HATE RUSH - BUT HAVE NEVER LISTENED TO HIM.
• LIKE IDIOTS WHO HATE FOX - BUT HAVE NEVER WATCHED IT.
• OR LIKE ALL THE IDIOTS THOUGHT BUSH WAS DUMB - BUT NEVER WATCHED HIM GIVE A SPEECH.
• IDIOTS.
  
• CLOSED-MINDED KNEE-JERK LIBS.
• WHO WILL WAKE UP IN 2017.
• OR SOONER - LIKE WHEN THEY GET THE OBAMA TAX BILLS FOR CRAP LIKE CAP & TRADE AND NATIONALIZED HEALTH!

THE FEDS WILL RUN HEALTHCARE AS WELL AS THEY RUN FANNIE MAE AND THE NHS AND THE SEC AND MEDICARE/MEDICAID - WELL, YOU GET THE PICTURE!

DISSENT ACCORDINGLY.