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Notes to myself, possibly of interest to others.
-- Bill Northlich

Monday, May 16, 2011

Calm Down on Medicare, Social Security

This weekend the media were full of stories about how Medicare would run out of money in 2024 and Social Security “funds will be exhausted by 2036.” Lies. After 2024 Medicare will only have enough money to pay 90% of its obligations, and Social Security will not be “exhausted” in 2036, that's just when under current laws its funding will no longer cover 100% of the promised payments. Big difference between running out of money and running a little short. A little short we can cure with a tax increase on the better off folks and by finally taking the insurance company profits out of medicine.
---CK Michaleson

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