CDSaint
03-25-2005, 03:31 PM
http://story.news.yahoo.com/news?tmpl=story&cid=1896&ncid=1896&e=2&u=/nm/20050325/us_nm/economy_treasury_medicare_dc
from the article is the following excerpt
Rising health care costs and the aging of the baby boom generation has pushed Social Security and Medicare to center stage in U.S. politics. President Bush (news - web sites) has made overhauling Social Security his lead domestic initiative and has launched an aggressive campaign to promote its proposal to allow younger workers divert part of their retirement savings into private investment accounts.
Still, some economists have argued that Medicare is a far more pressing problem for the country. According to data released this week, the Medicare hospital insurance trust fund will be depleted in 2020, while Social Security will exhaust its assets in 2041.
"Medicare finances are projected to get out of hand not only because of an aging society, but more importantly because of rapidly increasing health care costs," he said. "High health care cost growth is not a Medicare-specific problem, but an economywide problem."
from the article is the following excerpt
Rising health care costs and the aging of the baby boom generation has pushed Social Security and Medicare to center stage in U.S. politics. President Bush (news - web sites) has made overhauling Social Security his lead domestic initiative and has launched an aggressive campaign to promote its proposal to allow younger workers divert part of their retirement savings into private investment accounts.
Still, some economists have argued that Medicare is a far more pressing problem for the country. According to data released this week, the Medicare hospital insurance trust fund will be depleted in 2020, while Social Security will exhaust its assets in 2041.
"Medicare finances are projected to get out of hand not only because of an aging society, but more importantly because of rapidly increasing health care costs," he said. "High health care cost growth is not a Medicare-specific problem, but an economywide problem."