On the recordMay 31, 2011
Mr. Speaker, the CMS actuary just came out with the grim news. Apparently the insolvency date of Medicare was just moved up 5 years to 2024--that is only 12 years from now--and will probably move up further before we get there. Furthermore, this is after one-half trillion dollars has been shaved from current Medicare to extend the life of Medicare, and, as we all know, that money is already infamously booked twice: once for middle class insurance subsidies and the other to extend the life of Medicare. The 2012 budget that passed the House with bipartisan support is the beginning to the solution for this problem. It preserves Medicare for those 55 and over and reforms it to a market-based system with lots of choices for those under 55 today. Meanwhile, Democrats simply play ``mediscare'' on this issue and insist on doing nothing. ____________________
