Thursday, December 17, 2009

Medicare, Social Security drying up faster than expected - Denver Business Journal:

Medicare, Social Security drying up faster than expected - Denver Business Journal:: "Trust funds that support Medicare and Social Security have eroded due to the recession and will run out of money earlier than expected, government officials say.

Medicare, the government health care program for seniors, is projected to run out of money in 2017, two years earlier than previously predicted, according to the 2009 annual report by program trustees.

Social Security, the government assistance program for seniors and the disabled, is projected to become insolvent by 2037, four years earlier than trustees predicted a year ago.

Already poised for significant financial challenges as the baby boom generation ages and retires, the twin programs have taken a hit from rising unemployment. The loss of 5.7 million jobs since December 2007 means that fewer workers are paying into the programs."

As democrats want to cut money from Medicare and add millions of people to it .. yeah, I can see that the treatment levels won't go down. Medicare already has the highest rejection for treatment among any major health insurer already. Imagine after they get their budgets cut and they add millions to it? ~~~ The Munz

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