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Just The Facts

- May 13, 2011

Obama’s Failure To Provide Real Solutions And Leadership Will Guarantee The Bankruptcy Of Medicare

THE TRUSTEES FOR MEDICARE AND SOCIAL SECURITY REPORT THAT OUR ENTITLEMENT PROGRAMS ARE GOING BROKE FASTER THAN PREVIOUSLY THOUGHT

Social Security & Medicare Trustees: Medicare’s Trust Fund Will Be Exhausted In 2024, Five Years Earlier That Predicted Last Year. “Medicare's trust fund will run dry in 2024, five years earlier than forecast just last year, and Social Security's will be exhausted by 2036, adding fuel to the debate over cutting one or both programs to reduce annual budget deficits.” (Richard Wolf, “Medicare, Social Security Running Out Of Money Faster,” USA Today, 5/13/11) 

  • The Nonpartisan CBO Projects That Medicare’s Trust Fund Will Be Exhausted Even Sooner, In 2020. (“March 2011 Medicare Baseline,” Congressional Budget Office, March 18, 2011)

When The Trust FundS Run Dry, Medicare Benefits Will Be Cut By At Least 10%, And By 25% In 2045. “If the trust funds run out, the programs no longer would be able to pay full benefits. … Medicare could pay 90% starting in 2024, dropping to 75% in 2045.” (Richard Wolf, “Medicare, Social Security Running Out Of Money Faster,” USA Today, 5/13/11)

The Trustees Projections For Medicare Are “Suspect” Because They Depend On Savings From ObamaCare That Are Unlikely To Materialize. “The Medicare figures are suspect, because they rely on billions of dollars in savings projected under the health care law signed by President Obama last year. Those savings depend on many factors, such as cuts in payments to doctors that Congress habitually sidesteps, as well as improvements in doctors' and hospitals' productivity.” (Richard Wolf, “Medicare, Social Security Running Out Of Money Faster,” USA Today, 5/13/11)

YET, PRESIDENT OBAMA HAS REFUSED TO SUBMIT A PLAN FOR PREVENTING  INSOLVENCY

“Obama Has Long Resisted The ‘Entitlement Reform’ Movement.”  “Obama has long resisted the ‘entitlement reform’ movement, which is currently focused on establishing a blue-ribbon commission that would present Congress with a finished proposal -- presumably calling for steep cuts in the nation's bedrock social safety programs -- for an up-or-down vote.” (Dan Froomkin, “Obama’s Sense Of Entitlements,” The Washington Post2/20/09)

President Obama’s FY2012 Budget “Declined To Propose Major Changes To Social Security, Medicare Or Medicaid.” “Even as the administration said it wants to reduce the deficit by more than $1 trillion over the next 10 years, it declined to propose major changes to Social Security, Medicare or Medicaid, which combined account for more than 40 percent of federal spending.” (Perry Bacon Jr., “In Third Year, Obama Proposes A More Modest Course,” The Washington Post, 2/14/11)

 “The White House Hasn’t Posted A Plan, And The President Called For Creating Another Group, Led By Vice President Biden And Congressional Leaders, To Come Up With Legislation.” (Mark Murray And Domenico Montanaro, “Obama’s First 2012 Campaign Speech,” MSNBC’s First Read,” 4/13/11)

Obama Has “Steered Clear Of Fundamental Changes To Medicare, Medicaid And Social Security — The Primary Drivers Of Future Spending.” “In his most ambitious effort to claim the mantle of deficit cutter, Obama proposed sharp new cuts to domestic and military spending, and an overhaul of the tax code that would raise fresh revenue. But he steered clear of fundamental changes to Medicare, Medicaid and Social Security — the primary drivers of future spending.”(“Breaking News Alert: Obama Unveils Plan To Reduce Borrowing By $4 Trillion Over The Next 12 Years,” The Washington Post, 4/13/11)

The Chicago Tribune: “If Not The Ryan Plan, Democrats, Then What?” (Editorial, “What Real Leaders Do,” The Chicago Tribune,4/5/11)

  • USA Today: “Democrats Have Already Begun To Demonize The Ryan Plan, But Where Is Theirs?”(Editorial, “Dems Bash GOP Budget, But Where’s Theirs?,” USA Today4/6/11)

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