The Social Security and Medicare Trustees reports, released last month, came and went faster than a bad sitcom. Two massive, vital and successful government programs are in trouble. Medicare and Social Security Trust Funds and the Federal Budget.he real meat is in table V.F1. on Page 212. All other government programs, after tax collections, operated at a loss of $83.9 billion. Just to be clear, $354.5 billion of the money spent providing Social Security and Medicare benefits in 2015 had to be borrowed. In 2004, the first year that Appendix F appeared in the Medicare Trustees Report, the combined trust surplus was $163.7 billion. The federal budget shortfall was a mere $18.5 billion, even though three-fourths of the cost of Medicare insurance is paid out of general revenues. The Trustees Report finds that the deficit for financing the program is 2.75 percent of payroll - if the tax increase went into effect immediately. Absent an unprecedented change in health care delivery systems and payment mechanisms, the prices paid by Medicare for most health services will fall increasingly short of the cost of providing such services.
Social Security And Medicare Reports Show Real Trouble Ahead
By Scott Burns, Houston Chronicle: Business
Tue, 07/26/2016 - 3:46pm
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