US Medicare Losing Money Faster Than Ever

With a US Congressional Budget Office report expected to confirm warnings that the Medicare program is losing money faster than ever, the debate over the scheme is heating up again. The New York Times feels that the control of Congress and the result of the presidential election could turn on the outcome.

Congressional Republican leaders plan to blame the President, noting he vetoed legislation last year that would have restrained Medicare spending, and the White House is likely to accuse Republicans of trying to cut health care for retirees to raise money for tax cuts for the rich.

However, the carping overlooks serious proposals on both sides that were offering this past spring to stop the slide into bankruptcy. Outside experts feel the plans offer a basis for a compromise that would stabilize the program, the NY Times says, and no-one now expects such a compromise to occur because officials on both sides feel their positions are politically advantageous, and that a compromise would cost them their edge.