Congress Looking at Limiting Medigap Options

[axeman462]

Holy crap they are not entitlements programs? We need to let Congress know about this because this means they have a lot more uncommitted dollars in the federal budget then they thought they had.This is a game changer


"Social Security, Medicare, and Medicaid, along with other entitlement programs such as food stamps, unemployment, and housing assistance, make up 60 percent of all federal spending. Including interest on the debt, the share of the budget that is mandatory spending is two-thirds."

Two-Thirds of All Federal Spending Was Mandatory in 2013




There is a ton of literature out there about this topic but this is just the first one I came across that explains that things are a little more complicated then what you see on FOX news:

Does the U.S. ‘steal’ from Social Security?

Does the government really 'steal' from Social Security? - Encore - MarketWatch

Be careful trying to use logic, reasoning, and math with Somarco. He's a bit old to understand that stuff. Before you know it, he will try to discredit you by saying stuff like "you're too young to understand how the world works".

 

[bobgio]

Do you understand the concept of sarcasm? I await your heartfelt apology.

Rick

Do you do any research or even know who invented sarcasm?
I DID!

 

[GreenSky]

Do you do any research or even know who invented sarcasm?
I DID!

Just can't bring yourself to apologize for attacking me for no reason, can you?

I guess it takes a better person than you to do that.

Rick

 

[bobgio]

Just can't bring yourself to apologize for attacking me for no reason, can you?

I guess it takes a better person than you to do that.

Rick

now who can't understand sarcasm?
YOU DON'T!

 

[GreenSky]

now who can't understand sarcasm?
YOU DON'T!

You're just doom and gloom. What about the Medicare trust fund? Surely that has plenty of money left. It's not like Congress took money out and is using their IOUs to double count the assets.

Rick

Do you even research anything before making a statement or are you just the blowhard you appear to be??? The trust fund has been gone since there was a trust fund. Congress has been using the surplus (i.e. "trust fund") for years to offset deficits. If the deficit was $100 billion and the surplus in SS and Medicare was $30 billion, they used the $30B to offset the $100B and reported a deficit for the year of $70B. No mention that they owed the money back to SS and Medicare.
Also, the amount being paid to SS and Medicare from current payrolls to pay for the costs of SS and Medicare has been in a deficit for about a year (i.e. the payroll money is LESS than the SS and Medicare expenses each year and will continue to get worse). What this means is that the treasury has to borrow for keeping the government open, but also to meet the obigations of SS and Medicare. That's what they mean by 'Unfunded Liability". We are so screwed!

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One additional point.

Deficit spending by the US Govt for the past 80 years has artificially raised the standard of living for everybody for the last 80 years. By the government overspending, they have artificially caused the economy to be better than it would have been without it.

Also, the actuarial tables, as they've been updated over time, has not been used to change the FICA tax, or eligibility dates or benefit levels to coincide with the facts. Instead congress has for the most part just ignored the problem year after year after year. They're aware of it, but because it is politically unpopular, the congress has not been appropriately responsive. That's why the "unfunded liability" of SS and Medicare will grow to $50 to $100 trillion over time. This will make the current deficit look like a penny problem compared to a future $100 problem

Put you head between your legs now because you will have to kiss your ass goodbye given the current situation.... !

Yeah, my mistake. I guess I thought this was an attack on me because you haven't learned how to read.

Actually it was simply "sarcasm."

I guess I should apologize for not catching the subtleness.

Rick

 

[Peter R]

How about focusing on the BILLION PLUS $$$ of Medicare Fraud!