DNC Chair: No Plan To Save Medicare From Bankruptcy

Posted by Brian Patrick on

FYI – 

This morning on Face The Nation, once again DNC Chair Debbie Wasserman Schultz had no answer when asked whether Democrats had a plan to save Medicare.
 

  • Harry Smith: But the Trustees also said a couple of Fridays ago that this thing (Medicare) could be insolvent in the next decade. Doesn’t something really dramatic have to happen, and as the Congressman suggested, Republicans have a plan, do the Democrats have a plan?
  • DNC Chair Debbie Wasserman Schultz: Like I said, the Republicans have a plan to end Medicare as we know it. What they would do is they would take the people who are younger than 55 years old today and tell them ‘You know what? You're on your own.’”

Congresswoman, that’s NOT a plan ...

 

Background:

The Medicare Trustees Report Stated Medicare Will Go Bankrupt In 2024. The Medicare hospital insurance fund for seniors is now projected to run out of money in 2024, five years earlier than last year's estimate. (The Associated Press, 5/13/11)

  • The Trustees Also Emphasized The Need For Congress To Act and Save Medicare. “The trustees for the funds said in their annual report that the worsening financial picture emphasized the need for Congress to make changes to avoid disruptive consequences in the future for millions of people who depend on health and pension benefits.” (The Associated Press, 5/13/11)

In March, CBO Stated Medicare Will Go Bankrupt Even Sooner Than The Trustees Have Indicated. “The Hospital Insurance Trust Fund is projected to become exhausted in 2020.” (“March 2011 Medicare Baseline,” Congressional Budget Office, March 2011, p. 4)
 





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