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View Diary: Conrad Working to Cut Social Security/Medicare and Could End up Torpedoing HCR (327 comments)

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  •  Define insolvent (2+ / 0-)
    Recommended by:
    GiveNoQuarter, batgirl71

    The HI Trust Fund is in the final analysis a reserve fund, Medicare Part A is funded on an overwhelming basis by the payroll tax with any gaps made up by drawing down minutely on the TF. The current unemployment has slowed payroll receipts meaning that the date that receipts fall below expenses has moved up but the overall gap will still be reasonably small. Medicare Part A is not going to fail, either General Funds will be allocated as they are right now for about half of the financing of Parts B (Physicians) and D (Drugs) or there will be some cutbacks.

    What is truly funny is that some of the people who are bleating most loudly about the needs to address Medicare shortfalls through a Commission are the same ones squealing loudest about attempts to pare back Medicare spending in the current Health Care Bill. Well wingnuts, you can have it one way or the other.

    Get cognitively dissonant much?

    •  And Reid is considering raising the payroll tax (0+ / 0-)

      on the wealthy to help fund health care reform.

    •  Robo Statistician. Please tell us what would (0+ / 0-)

      happen to Social Security if the maximum  income amount per year payroll-taxable to any tax payer went up beyond what I think is about a hundred and ten grand, and the retirement age went up another year since life expectancy is also rising. I have always understood that doing one or both of these two things would fix the Social Security  problem very straightforwardly without a need for any dingwinkie commission. Any other statistician volunteers also welcome.

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