Medicare To Be Bankrupt In 13 Years
The latest Medicare Trustee’s report is fairly sobering:
The new Medicare trustees report says the trust fund is now likely to run out of money in 2024, five years earlier than predicted last year.
The reason, according to CMS, is that the economic recovery has been slower than expected — making tax revenues come in more slowly.
At a press briefing, Treasury Secretary Timothy Geithner said the change in the projection was due to “technical changes in the economic assumptions underlying the projections.”
Which is Washington-speak for “those rosy economic assumptions we made were pretty much crap.”
Then we had better accelerate implementation of the ACA and wrap up the stupid red-state court cases against the individual mandate.
Did you read the part that said the law only extends the life of the fund by eight years?
And by the end of the year, that date will be moved up again.
Were your economic projections better Doug?
(Most projections are wrong, but people want to hear them anyway. See Taken.)
2024? That’s, like, so long from now. We have at least 10 years or so to tackle the problem. I don’t see the big deal.
Just kidding, Doug. We need to eliminate Bush’s prescription drug benefit, to start. That was just a massive giveaway to Pharma.
Sorry, just looking back. My phone edited “Taleb” to “Taken” when I wasn’t looking.