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 â€” nearly twice as many as it covers now.”
To read the entire report, click on Medicare: An Entitlement Out of Control.
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