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Wed May 15, 2013, 05:57 AM

Don't Look Now, but Our Medicare Spending Projections Are Plummeting [View all]

Here's the story budget wonks will tell from today's Congressional Budget Office report: The deficit is poised to shrink to its lowest level since 2008. Good news? Yes, if you're a deficit hawk. Bad news? Yes, if you think (as I do) the deficit is falling too quickly, especially at a time of high unemployment and declining household debt.

Here's the story I wish more people would talk about: Our incredible shrinking Medicare projections. Since August, CBO has now revised down its projections of mandatory health care spending by nearly $500 billion, as Michael Linden pointed out. Since the 2010 CBO report, projected Medicare spending between 2013 and 2020 has fallen by just over $1 trillion ... or 16%.

Here's the graph comparing 2010's Medicare projection to 2013's ...

See why here: http://www.theatlantic.com/business/archive/2013/05/dont-look-now-but-our-medicare-spending-projections-are-plummeting/275849/

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