by "John Galt" <whoisjohngalt@[EMAIL PROTECTED]
>
May 16, 2008 at 08:04 PM
"robert bowman" <bowman@[EMAIL PROTECTED]
> wrote in message
news:695io9F2vcpvjU2@[EMAIL PROTECTED]
> John Galt wrote:
>>
>> Medicare is broke. The fiscal imbalance of Medicare is 60-70 TRILLION
>> dollars, with the red ink starting between 2014 and 2017. That figure
was
>> first calculated by Alice Rivlin when she was running the CBO for
>> Clinton, was verified by the Gokhale and Smetters re****t commissioned
by
>> Paul O'Neill, and was/is repeated by Greenspan/Bernanke quarterly in
when
>> the Fed Chair re****ts to Congress.
>
> What will be the state of the entire US economy by 2017? I find the
> predictions that SS and Medicare will be broke in 10 or 20 years to be
> quite laughable in the context of a government that plans ahead for the
> next 10 or 20 months.
Your reaction is your perogative.
However, detailed analysis indicate that even in the best-case scenarios,
the red ink is not solvable.
http://www.aei.org/doclib/20030723_smettersfinalcc.pdfhttp://www.amazon.com/Coming-Generational-Storm-Americas-Economic/dp/0262612089
JG
