Rep. Harris criticizes the Obama Administration for calling fiscal health “stable”
Today, the Medicare Trustees released a comprehensive report outlining the fiscal problems of the Medicare system. The report found that Medicare will go bankrupt in 2024. After the release of the report, the acting CMS Administration claimed the Medicare system is “stable.”
Congressman Andy Harris, M.D., a physician representing Maryland’s First District, released the following statement:
“The current Medicare system is not “stable” as the Administration claims; this report shows Medicare is going bankrupt. Unless action is taken to save Medicare, beneficiaries will see dramatic cuts in benefits. Instead of the Obama Administration’s plan to impose draconian cost-cutting measures which will lead to rationing of care for beneficiaries, we need comprehensive reform to the system to ensure the federal government keeps its promise of Medicare to current beneficiaries and to future generations. I am ready to work across the aisle to preserve the Medicare program through physician-patient centered reforms.”
Facts citizens should know about Medicare:
Medicare expenditures total $571billion, of which, $211billion comes from the general fund. Medicare premiums and taxes do not cover the costs of the system.
On average, a two earner household pays $119,000 in Medicare taxes in their lifetime, but gets $357,000 in benefits out of the system.
Each year it becomes more difficult for new Medicare patients to find healthcare providers.
3 comments:
Is that figure of $119,000 adjusted for infation?? The actual value in purchasing power of that $119,000 adjusted for inflation over a 50 year period would far exceed $357,000. More smoke and mirrors!!
Not to worry. This country will not survive that long.
If you remeber the prices from 50 years, Do the math: In gasoline $ the $119,000 of 50 years ago would now be $2,641,800. In grocery $ (bread) the $119,000 of 50 years ago would now be $8,330,000. In Gold $ the $119,000 of 50 years ago would now be $11,900,000. (+/- an error of 5%.) Medicare recipients are STILL paying the taxes plus paying a large part of the medical bills. What benefit do we get from the fraud and waste??
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