Medicare Trustees Confirm Democrats' Medicare Plan Would Result in 'Actual' 17% Medicare Cut

Thomas Lifson
Further confirmation came today that the GOP must play offense on Medicare, rather than getting trapped into defending the Ryan budget. The status quo is not an option. In testimony before the House Ways and Means Committee today, two Medicare Trustess, Drs. Charles Blahous and Robert Reischauer, confirmed that based on our current path in 2024 there would be "actual" cuts to Medicare at 17%. They also confirmed that Medicare would end itself by 2024 unless actions are taken to save the program. Here are video excerpts:   Here is the full transcript:       Rep. Roskam: Thank you, Mr. Chairman. Your report shows that Medicare will now be bankrupt in 2024. Americans would then be forced to either endure a massive tax hike or "an immediate 17-percent reduction in expenditures." In other words an immediate 17-percent Medicare cut. Can you explain what you mean by immediate?   Dr. Blahous: Well the way that the trust funds work, both on the Social Security side...(Read Full Post)

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