Ending Medicare AS WE KNOW IT

Mark Steyn on the Democrat’s latest hit: “Ending Medicare as We Know It!”

Paul Ryan proposes to end Medicare as we know it,” sings former Clinton chief of staff John Podesta. “It would end Medicare as we know it,” sings Sen. Max Baucus of Montana. “It’s going to end Medicare as we know it,” sings Nadeam Elshami, communications director for Nancy Pelosi. “It does end Medicare as we know it,” sings Sen. Tom Harkin of Iowa.
*****
Sadly, Rep. Debbie Wasserman-Schultz, incoming chair of the Democratic National Committee, lost the sheet music and was forced to improvise. “This plan would literally be a death trap for seniors,” she ululated. Close enough!

What’s funny, is that these folks don’t seem to understand that Medicare is on a path of self destruction.

The raw fact is that Medicare threatens the solvency of the United States. There is no disagreement about this among either Democrats or Republicans, if they are candid. Medicare’s problems are much worse than those of Social Security.

Medicare spends half a trillion dollars a year in a total federal budget approaching $4 trillion. On the present course, Medicare could suck up more than one dollar of every seven in the economy by 2080 —$2 trillion a year in today’s dollars, the nonpartisan Congressional Budget Office has projected.

Because, you see, payroll taxes pay LESS THAN HALF of Medicare spending. The government has to use general funds to pay the $200 a billion more needed. A typical worker has paid in $55,000 (in today’s dollars) into a system that requires $161,00 in costs.

And taxing THE RICH won’t solve it either. Well, if you hiked up the top rate to 70% again, you could come up with the money to cover today’s Medicare’s spending. Of course, once the boomers start retiring, you’re in trouble again.

And, the other spending? Social Security, Obamacare, etc … well, you’ve got to find new money for that. That 70% top rate would only bring in $350 billion. You’ve got to find new money for everything else.

What do the Democrats offer to fix this problem?

Nothing.

We’ve got to simply keep paying and paying and paying. No cuts. No reforms. Just platitudes.

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2 Comments on “Ending Medicare AS WE KNOW IT”

  1. Svenster Says:

    It’s the end of Medicare as we know it and I feel fine.


  2. I was thinking the same thing.

    I’m sure we could write a whole set of lyrics to the tune of the REM song.


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