Medicare CPR

posted by
April 11, 2011
Cato Institute
by Michael D. Tanner  
Posted in Commentary

"Faced with a budget deficit of $1.65 trillion this year, an on-the-books national debt of $14.3 trillion, and a real debt (including the future liabilities of Medicare and Social Security) of as much as $119.5 trillion, Ryan (R-Wis.) proposes cutting spending by $6.2 trillion over the next 10 years. It is a sign of how deep a hole we are really in that despite cuts of this magnitude, the national debt will increase by $6 trillion over the next decade even under Ryan's plan. The most important part of Ryan's proposal, however, is not the budget cuts; it is the idea of restructuring two of the government's biggest entitlement programs: Medicare and Medicaid." (04/10/11)  

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