Obamacare extends life of Medicare by 12 years!

Medicare Trustees issue an update saying that Obamacare has added 12 years to the life of the program.

http://www.aarp.org/work/social-security/info-08-2010/social_security_medicare_trustees_report.html

That should be good news to all but the extremist right wingers in American politics. Why is this not being reported in the "liberal" press? I guess you would have to find the "liberal" press first. I can understand why it is not being reported by the pushers of the "death panels".

 

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Or not...

 

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Well you see here is the difference, the CMS based its estimates on current law. Foster and Republican doubt that "current law" will remain as is. Why shouldn't current law remain as is? Republicans want to throw a bunch of other unrelated material into the numbers.

http://thehill.com/business-a-lobbying/112265-hhs-trumpets-report-on-medicare-savings

Accounting gets really crazy if you go that far and say estimates must be based on current law plus laws that may or may not happen in the future. You have to base assumptions on what is known....not on changes to the law that may or may not occur at some future point in time.

 

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Prolonging the agony, nice.

 

it will be bankrupt in 5 years
like the rest of the country

 

If you have some evidence and reasoned analysis to support this position, now is the time to show it...else it is just more fear mongering from the extremist right wing.

 

It's bankrupt already.

 

that's funny because last time checked medicare is still able to pay out benefits.

 

Evidence? How about this:

http://www.newsweek.com/2009/05/22/let-them-go-bankrupt-soon.html

http://www.associatedcontent.com/article/1529588/is_the_us_government_bankrupt.html?cat=9

http://www.businessinsider.com/medicare-and-social-security-are-going-bankrupt-and-obama-isnt-even-trying-to-fix-them-2010-3

Took me, oh, about 4 minutes of Googling. I suppose our "fear mongering" has infected Google's search algorithm? Perhaps conservatives have infected Google with a "fear mongering" virus?

 

From that magic money fountain that they keep hidden somewhere around here?

 

cute but if that what it takes for you to believe it stills pays out than yeah sure whatever you want

 

So you admit that the Magic Money Fountain exists?

Is there a Peak Money Theory that will predict a maximum plateau of reserves, or is it truly magic?

 

LOL, your "evidence" opinion pieces including one from a Republican leader in the House is not evidence. The opinion pieces are highly biased and are based on inaccuarate information and unsupported claims.

And let's take a look at some of the more glaring errors. One, the claim that Medicare is bankrupt or will be bankrupt in the near future is not supported by the Medicare Trustees or the Treasuries most recent analysis and assumes information which is false. It ignores the cost improvements rendered to the program by the elimination of the "no bid" perks placed into the Social Security Program by Republicans in 2003. Those special interest perks amount to almost 700 billion dollars in the next 10 years.

And articles you referenced ignore or severely understate cost reductions gained through improvements in quality brought about by Obamacare.

Your second article was not about Medicare, but about the overall financial condition of The United States. I stopped reading it when the author started making claims that the current government wanted to nationalize banks and had attempted to do so. At that point, your article lost all credibility. The current US government has not nor intends to nationalize all banks. That is just absured.

So you whacko pieces using incorrect data and invented data does not support your claim. And yeah, it does not take long to find right wing whacko nonsense anywhere. It takes a lot longer to try to find something based on evidence and reason.

 

Sure a money fountain does exist in the Federal Reserve. It is the Federal Reserve, not the Treasury that determines the US monetary supply. The Fed has the power to print money (expand the money supply) and it also has the power to shrink the money supply.

Most people tend to focus on its power to expand the money supply, but few people realize that the Fed can also reduce the money supply. The job of the Fed is to expand the money supply and reduce the money supply as needed.

 

Federal Reserve not the Treasury. Good! I'm glad we're off on the right foot! No nation should actually control its own money, but instead hand that duty over to a private bank.

I'm glad you got that down.

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Well to be honest, the Fed is not a private bank. It is an independent agency of the US government. And it is good that it is independent. The reason it was made independent was to keep it insulated from politics. The Fed is chartered to do what is best for the nation, not what is politically expedient.

 

Independent agency of the government. And it doesn't have to tell people what it's doing?

http://www.youtube.com/watch?v=id04EMU6OIw

Why did the Audit the Fed bill get so many supporters?

 

You seriously believe that? The government is accountable, independent agencies by definition are not.

I bet there are very good legal and economic reasons why the Fed is kept "independent"

 

Newsweek = right wing whacko nonsense...OK, dude! Must be nice living with blinders on.

 

I suppose better reasons than those of the Constitution which gave issuance of currency to Congress.

I can't wait till the loving World Bank has ultimate control. Free us of all autonomy!
Centralize, centralize, centralize!