Dan Froomkin: Medicare Gets New Lease On Life; Social Security Remains Healthy

[babylonsister]

Dan Froomkin
[email protected] | HuffPost Reporting
Become a Fan Get Email Alerts from this Reporter




Medicare Gets New Lease On Life; Social Security Remains Healthy


The new health care law has significantly improved the prognosis for Medicare, extending the life of its trust fund by 12 years until 2029, and thereby delaying any need for dramatic changes in benefits or revenues, according to a new report.

The annual check-up from government actuaries overseeing the nation's two central safety-net programs also found that Social Security continues to be much less of a problem than Medicare, and will remain in strong financial shape at least through 2037.

"The financial outlook for the Medicare program is substantially improved as a result of the far-reaching changes in the Patient Protection and Affordable Care Act," concludes the Medicare report -- although the trustees warned that the improvements depend on the successful implementation of the law.

Social Security, according to its annual report, is expected to pay out slightly more in benefits than it receives in payroll tax this year, for the first time since changes were made in 1983. But payroll taxes are only one source of income for the program, and with the others -- including interest income on its $2.5 trillion trust fund, held in special issue U.S. Treasury securities -- the program is expected to continue to run a surplus until 2024.

more...

http://www.huffingtonpost.com/2010/08/05/medicare-gets-new-lease-o_n_671936.html

[gratuitous]

1. Any other government programs that have to prove their solvency?

Wouldn't it be nice to see a full review of the defense budget by a committee composed of peaceniks, hippies and devotees of non-violence? I mean, as long as Social Security has to be scrutinized by a bunch of people who don't depend on it for their well-being, it seems only fair. And while there's so much hand-wringing going on over Social Security being funding "only" through 2037, how long do you suppose we can keep spending more than a billion dollars a day on defense?

[madmom]

2. I'd like to volunteer for that duty!

:hi: :patriot:

[laughingliberal]

3. K & R nt