Tag Archives: Medicare

Deficit will take a dip before soaring to new heights

The federal budget deficit will fall to a six-year “low” of $468 billion in 2015, before resuming an upward climb that will take the federal debt to record heights. These are the latest numbers from the CBO, which had predicted a somewhat larger 2015 deficit of $483 billion. The 2008 financial crisis led to the highest deficit as a percentage of the economy on record since World War II — in 2009 it was $1.4 trillion.

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Medicare, Social Security Inching Toward Insolvency

A new report prepared for Medicare and Social Security says both programs are headed for bankruptcy, but not immediately. According to the Hill, that Medicare will not go belly up until 2030, while Social Security funds will tap out by 2033.

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Entitlements Driving Up Deficit

Social Security, Medicare, and Medicaid make up the three most relied upon and expensive government programs. Hold on a minute, Social Security isn’t an entitlement. Workers paid into it all their lives, so it would be there for their retirement. But congress through the decades borrowed from it to support their spending habits. As a result, they must borrow to make ends meet.

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Knee replacements soar among US older folks

Just like their counterparts, the babyboomers, older folks have seen a surge in knee replacement surgeries, driven partly by a desire to stay active and by joint-damaging obesity. A study finds more than 3 million Medicare patients who are 65 and older, got artificial knees from 1991 through 2010. Almost 10 percent of the operations were redos — replacing worn-out artificial joints.

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