Medicare - Broke by 2018. Quick, Loot It Now!
The annual report, issued yesterday by the trustees who monitor the fiscal health of the Medicare and Social Security programs, said the trust fund for the health insurance system for the elderly will run out of money in 2018 -- two years sooner than predicted a year ago and 12 years sooner than had been anticipated when President Bush first took office.This, coming from a man who has proven time and again that HE IS A LIAR!
The problem, the report says, has accelerated largely because hospital costs last year were greater than expected.
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Treasury Secretary John W. Snow, one of the trustees, said the programs "form the basis of a looming fiscal crisis for our nation as the baby-boom generation moves into retirement."
"The systems are going broke," Bush said in a health-care speech earlier in the day. "And now is the time to do something about it."
And what does he propose?
[Create] a federal commission on the plight of entitlement programs and to slow Medicare spending by $36 billion during the next five years.Dutifully following the blueprint laid out by Greenspan last year.
And who are these so-called 'Trustees' whose report we're supposed to take as gold?
The chairman and the top Democrat on the Senate Finance Committee are griping that the White House has diminished the role of independent experts in preparing the trustees' report, by failing to appoint replacements for the public trustees, economists Thomas R. Saving and John L. Palmer, when their terms expired a year ago.It's reassuring to know we have a close knit cabal of criminals running our nation into the ground.
Instead, the White House renominated them last November and, after lawmakers complained that they preferred to rotate outside trustees, installed them without Senate confirmation as "recess appointments" while Congress took Easter vacation. Saving and Palmer said yesterday they had served as unpaid consultants in preparing the report until they were reappointed.
White House spokesman Ken Lisiaus said that Saving and Palmer were reappointed because they "are true experts in economics" and that the position of public trustee, created in 1984, is too recent "to establish any sort of long-held precedent" that they must serve only one term.