America, You Asked For It!

Political News and Commentary from the Right

Something’s Got to Give

by Ken Connor at Townhall.com

This has been the “Summer of the Senior” in America.

While the health care debate has raged, senior citizens have been front and center at town hall events, challenging their representatives to explain how Obamacare will affect Medicare and pressing them to shoot straight about whether a “public option” will result in health care rationing or “comparative effectiveness” policies (what Sarah Palin has termed “death panels”).

In the midst of the turmoil, America’s seniors learned this week that, for the first time ever, they will not be receiving a cost-of-living adjustment to their monthly Social Security benefit. The reason for this is that the Social Security Administration bases its cost of living adjustments on inflation, and inflation has been negative this year. Nevertheless, many senior citizens are becoming anxious on news of a cut in their benefits. That anxiety is only a pale foreshadowing of what is yet to come.

According to the latest projections, Social Security will begin paying out more money than it collects in 2016 and will become totally insolvent in 2037. Medicare is estimated to go belly up in 2017?two years earlier than previously projected.

More

Advertisements

August 30, 2009 - Posted by | Health Care | , , , , , ,

1 Comment »


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: