On the recordDecember 17, 2013
I would like to continue to raise a simple point but a point of profound financial significance to America. One of the things that has happened in the bill that is before us is there has been an extension in the 10-year BCA plan--which was enacted 2 years ago; there are only 8 years left--an extension of a 2-percent reduction in payments to hospitals and doctors who provide services through Medicare, treat patients, and get paid by the U.S. Government. So they were reduced 2 percent. This is scored as a savings for the country. In effect, it is perceived as a savings that allows us to spend more money somewhere else. That savings, as was done in this legislation, involved the last 2 years--years 9 and 10--of the 10-year window from today. It creates some money, they say, because we reduced Medicare costs and we can spend that money in this year and next year on nondefense and defense discretionary spending, and we are going to promise to use the money we save in Medicare in years 9 and 10, outside the promised BCA 10-year window which is already moving along. What I want to raise is a deep and fundamental point. Medicare is already in deficit. Medicare is already spending more money to provide care for seniors than is being taken in off people's paychecks every week. But Medicare does have a trust fund. Medicare Part A does; it's called the Hospital Insurance trust fund. Social Security also has a trust fund.…
