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Medicare Bankrupcy but War Machine Not?
cobalt123 21:56h


From my local public television tonight, a story about the TRILLIONS of dollars that Medicare funding for health will be in deficit within the next 15 years. The two links below are from the Chicago Tribune and the NY Times. However neither story gives quite the impact of that I saw on public television! Links follow:

http://www.chicagotribune.com/news/nationworld/sns-ap-medicare-social-security,1,2870337.story?coll=chi-news-hed

http://www.nytimes.com/2004/03/24/politics/24BENE.html?hp

Now take a look at the public television story:

http://www.nightlybusiness.org/

Key snips:

"DARREN GERSH, NIGHTLY BUSINESS REPORT CORRESPONDENT: The good news in the trustees report is that Social Security`s financial deficit did not get worse. The bad news is that Medicare is on fiscal life support, projected to exhaust its trust fund in 2019, seven years earlier than projected in the trustees report last year. That is the worst deterioration in the trust fund on record.
And this, far more detailed than the Chicago Trib and the NY Times report:
"GERSH: Over the next 75 years, the trustees report puts traditional Medicare`s unfunded liability at a staggering $19.6 trillion. Add to that the new drug benefit passed by Congress, which carries an unfunded liability of more than $8 trillion, and you get a total unfunded liability of $27.7 trillion. By contrast, Social Security`s $3.7 trillion unfunded liability seems cheap. In 20 years, Medicare costs are projected to overtake spending on Social Security, and the health care program will eventually dominate the federal budget."
Is this yet another example of major public and commercial US media shielding the American public from the actual impact such news carries?

  
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