As you can see, Medicare accounts for more of our spending than all the armed services combined. As you know, the thumb rule is 50% of a person’s lifetime medical costs occur in the last six months of a person’s life. The baby boomers are just turning 65 now. Medicare is going to be an atomic debt bomb in 12-20 years. Medicare has to be reformed and people have to realize that the government will have to ration health care in order to contain costs. Best to start working on a private sector solutions and allow interstate competition to decrease costs and increase quality of service.
Filed under: Debt, Health care, Medicare, Taxes