Medicare Statistics

David Nather of The Center for Public Integrity in October 2010 reported the following:

• Medicare expenses grow faster than Social Security expenses.
• Medicare expenses have grown faster than the economy by 1.3% to 3% over the past 40 years.
• In 2009, Medicare trustees said Medicare faces $36 trillion in unfunded obligations. However, in 2010 the trustees said the unfunded number has been eliminated with the new health care reform law.
• In 2010 Medicare spending will be $451 billion, or 12% of all government expenses.
• “Because of the aging of the population, driven by the large cohort of baby boomers, Medicare is expected to cover as many as 79 million people in 20 years — nearly twice as many as it covers now.”

To read the entire report, click on Medicare: An Entitlement Out of Control.