Extending Medicare: Medical and National Suicide -- Seeking Alpha

By Simon Smelt | May 15, 2009

Medicare and social welfare are heading for insolvency more rapidly than previously forecast. The $50 trillion plus of their unfunded liabilities (according to the government’s “Financial Report of the United States” is beginning to appear over the horizon. At the same time, the U.S. Congress is discussing extending Medicare to those not covered.

But maybe that’s OK because the industry has said it is going to get costs under control and save literally trillions.

Alas, closer inspection shows the idea of extending Medicare to be suicidal and the trillions in savings do not exist, based on the government’s own figures.....

Extending Medicare: Medical and National Suicide -- Seeking Alpha