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Monday, August 13, 2012

Obama And The Democrats Fiddle ..... Rome Burns

If you are watching the democrats attack Paul Ryan on his budget plan it might seem that the nation's financial security and our 2 largest social programs are in the pink and everything is going swimmingly, according the democrats. Well according to the Social Security Trusties and the Medicare Trusties, SS is broke in 2034 and Medicare is broke in 2024. Paul Ryan has a plan ....the democrats have __________. No that was not a mistake, that empty space is the democrats plan to fix both Social Security and Medicare. It seems to me that the democrats are quite content to ignore the problem and slander anyone who attempts to address the issue beyond the usual clucking they do when the subject is brought up and it is pointed out that both are near bankruptcy. They are more than willing to sell our souls and our well being to win another election or 2 and that folks is all the time they have until the toilet is flushed. One has to ask if the democrats really care if Medicare goes broke and if that is indeed their plan. Will that mean that they will finally get their universal health care by allowing every other option to be destroyed. I would not put it past them.

After 2022, [OASI+DI] trust fund assets will be redeemed in amounts that exceed interest earnings until trust fund reserves are exhausted in 2036, one year earlier than was projected last year. Thereafter, tax income would be sufficient to pay only about three-quarters of scheduled benefits through 2085.
Medicare posts equally sobering numbers. The Health Insurance (HI) portion of Medicare is being hit by the slow US economic recovery and by higher costs for medical care. The Trustees project that the HI trust fund will be exhausted in 2024:
Over 75 years, HI’s actuarial imbalance is estimated to be equivalent to 21 percent of tax receipts or 17 percent of program outlays.
Medicare parts B and D (supplemental insurance and prescription drugs) are projected to be adequately financed indefinitely, but that’s due to a guaranteed Congressional allocation that currently amounts to 1.9% of GDP in 2010 and will reach 4.1% of GDP by 2085.
Obamacare lowers projected Medicare costs by 25% over the 75-year term. Most of the savings are related to reducing annual payment increases to providers, of which the Trustees note, “the long-term viability of this provision is debatable.”

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