Tuesday, March 25, 2008

New Report: Social Security , Medicare Bankruptcy Continues On, Congress Plays a Fiddle.....


Time to touch on a sertain subject again - the one that PROVED I am smarter than your Congressman. Social Security and Medicare. Why talk about it today? Well, because the trustees for both spoke on Capitol Hill today to give their annual 'We're screwed, when are you gonna do something about it?' speech. Big surprise - it isn't getting any better.
Social Security is still chugging along on schedule - they will outspend their incoming money in 2017, and by 2041, it will be completely bankrupt. Only Congress could fuck up an annuity!! Medicare is in serious trouble, folks. It will be outspending THIS YEAR, and will be bankrupt by 2019. If Congress knew anything about financial planning, tye would have gotten on this years ago - like we suggested back in 2004 - but 'stay the course' continues to be Washington's mantra. OHHHHMMMMM.... OHHHHMMMM. Nope, it's still there.
Like I've always said, they key to turning around Social Security is to invest in more than T-Bills and other low-yield instruments. Democrats have a certain phobia about giving control of cash to people more talented than them, so I'll compromise. Find the investments, but have them in control of The Fed or some other policy wonk in DC that has half a brain. If you don't trust Wall Street, find someone you DO trust - just get off your butts and do it...
Medicare is a big problem. Why? Because the cash is already gone. You can't invest what you don't have. So, that leaves you with two options - raise funds or cut expenses. I know where I'm going on this one. Expenditures need to be cut, and drastically. Everyone to the left might complain that we'll be taking srevies away from the elderly , but is it worth bankrupting the country for? Most retirees are welthier than I am, they've gotten everything FDR promised them, and now I have to support them when it won't be there for me? Not fair, I say.
On a more compassionate note, there are effective ways to fix this. Here's a few tips.
Get rid of the Automatic Spending Raise.
When Congress has a shit fit over lowering the raise from 7.7% to 7.3%, things are going the wrong way. Cut the raise to about 5% for inflation and increases in population, and see how much we save.
Simplify Medicare Part D.
I hate to say it, but the Democrats are right, when it come to negotiating prices. In these times of double digit inflation in medical costs, you need to save where you can. Speaking of which.......
Stop Paying Hospitals for Negligence.
Maybe you didn't know this, but if the doctor amputates the wrong leg, guess who pays for it? You and Medicare. Why? Because there is no oversight, and Medicare doesn't fight for your dollars at all. Some states are beginning to get smart on this. Pennsylvania has made up a list of about 25 "F. Up's" that they will not pay doctors of hospitals for. You screwed up? Don't charge us for it. If I did that in the Auto Repair business, my ass would be getting sued. It's all a matter of common sense....
That's my real world solution of the day. Maybe it makes a little too much sense for Washington, but I guess that's why I'm not there...
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2 comments:

Anonymous said...

Shades of the billions in government aid funneled to the "non-profit" Planned Parenthood, who's had hundred million dollar surpluses in recent years.

This is the same Planned Parenthood that was founded by Margret Sanger to remove undesirables from the population, which particularly included blacks, like Jimmy Clyburn and Barack Obama... we went after Milosivic(sp?) in Serbia for ethnic cleansing like that.

cannot drink much more rum moye said...

dude is out there