Comments on: Can Medicare be fixed? http://blogs.reuters.com/muniland/2012/02/09/can-medicare-be-fixed/ Bridges, budgets, bonds Mon, 24 Nov 2014 00:29:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Carly_EngAmer http://blogs.reuters.com/muniland/2012/02/09/can-medicare-be-fixed/comment-page-1/#comment-682 Tue, 14 Feb 2012 16:55:00 +0000 http://blogs.reuters.com/muniland/?p=7454#comment-682 In attempting to address the problems of Medicare and medical expenses on the whole, members of Congress should look to the history of the program. The House Ways and Means Committee, when charged with assessing the costs of the program, projected that total costs for the first year would run no more than $1.3 billion when total spending in the first year actually was $4.6 billion. The committee did not improve its accuracy over time, projecting that hospital spending would amount to just $3.1 billion in 1970 when it was actually $7.1 billion. John Goodman, president of the National Center for Policy Analysis, explains that these chronic projection mistakes are because analysts failed to account for increased demand as 19 million people were given free access to unlimited health care. Today, Congress makes the same mistakes in different ways, failing to account for a dynamic market that undermines direct controls and ignores price-controlling efforts.

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By: jekyllisle http://blogs.reuters.com/muniland/2012/02/09/can-medicare-be-fixed/comment-page-1/#comment-680 Fri, 10 Feb 2012 16:17:49 +0000 http://blogs.reuters.com/muniland/?p=7454#comment-680 This is basic economics, our healthcare/Medicare system is geared for about 15 million people accessing it at a time. With the current amount of baby boomers retiring and approaching age 65 we are about see 73 million use the current system over the next 15 to 20 years.

Demand will outstrip Supply thus making prices rise – why is this so hard to see

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