We all are reading the news that changes in Medicare are necessary.
Looking at the fact it is devastating for anyone born between the age of 45 and 55, or younger. The health costs of the seniors has skyrocketed from $111 billion in 1990 to $ 509 billion in 2009. With the number of Americans eligible for the program expected to soar from 47 million today to 62 million in 2019, annual Medicare spending will increase to $895 billion by the end of the decade. The Medical Board of Trustees warned last year Congress that by 2029, the Part A trust fund, the part which pays for hospital and hospice for elderly, will be exhausted.
After learning these facts, combined with the news that Standard & Poor just lowered the U.S. credit outlook from stable to negative, I am utterly frustrated that we see partisanship between Republican (Ryan’s Plan ) and Democratic parties (Obama’s Plan) . We need solutions now and clear measures to control the rise in medical cost, now and not in 10 years. These measures have to be unpopular but doing nothing will be devastating to the American middle class.