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May 25 2011

Medicare "As We Know It"?

Nicole Kurokawa Neily

Need further proof that entitlement programs  are putting the country on a path to financial ruin? Check out the latest chart from the Mercatus Center’s Veronique de Rugy below that examines Medicare spending by source.

Medicare Spending by Source

As de Rugy shows, the programs aren’t really self-funded now – and are going to be even LESS funded in the future. Where will the money come from to pay for them? Why, general revenue funds – which will reduce the amount the federal government has to spend on other programs! 

Now, I’m okay with that – heck, there’s a TON of programs I’d love to cut – but in this instance, I’m reminded of President Reagan’s phrase “No government ever voluntarily reduces itself in size. Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we’ll ever see on this earth!” 

Let’s be honest – even if the government is squeezed for cash, they won’t start making cuts. They’re going to start raising taxes and fees on future generations. 

As we debate "changing Medicare as we know it," it’s quite apparent that "as we know it," it’s a terribly designed program – and one that is in need of major reforms. We owe it to future generations to tackle this program now.

Independent Women’s Forum’s mission is to improve the lives of Americans by increasing the number of women who value free markets and personal liberty. Sister organization of Independent Women’s Voice.
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