Discussion:
Impact Of Proposed GOP Legislation for Medicare and Medicaid
(too old to reply)
Tom Jigme Wheat
2011-06-22 21:55:01 UTC
Permalink
Consequences for Medicare and social security if Debt ceiling is not
Raised


http://online.wsj.com/article/BT-CO-20110519-712142.html

MAY 19, 2011, By Erin McCarthy
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--A failure to raise the U.S. debt ceiling
wouldn't be good for the U.S. economy, Austan Goolsbee, chairman of
U.S. President Barack Obama's Council of Economic Advisers, said
Thursday.

If the debt ceiling isn't raised, the U.S. would be forced to default
either on government bonds, Social Security, Medicare or the military,
Goolsbee said while speaking at the Council on Foreign Relations in
New York.
The U.S. hit its debt limit Monday, and Treasury officials expect to
exhaust the federal government's capacity to borrow in August.
Treasury Secretary Timothy Geithner has warned of an economic
catastrophe if the U.S. defaults on its debt.

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Impact of House GOP Legislation re: Medicare Medicaid


http://cboblog.cbo.gov/?p=2128

Congressional Budget Office analysis of GOP Paul Ryan's proposal to
privatize Medicare and make cuts to Medicaid (MediCal)
Under the proposal, most elderly people who would be entitled to
premium support payments would pay more for their health care than
they would pay under the current Medicare system.
CBO estimated the beneficiary’s spending on premiums and out-of-pocket
expenditures as a share of a benchmark amount: what total health care
spending would be if a private insurer covered the beneficiary. By
2030, the beneficiary’s share would be 68 percent of that benchmark
under the proposal, 25 percent under the extended-baseline scenario,
and 30 percent under the alternative fiscal scenario.
Federal payments for Medicaid under the proposal would be
substantially smaller than currently projected amounts.

---------------------------------------------------------------------------------------------------------------------------------------------------

If the Affordable Care Act (ObamaCare) is repealed, it will add 230
billion to Federal deficit
http://cboblog.cbo.gov/?p=1750

CBO’s Preliminary Analysis of H.R. 2, the Repealing the Job-Killing
Health Care Law Act
The House of Representatives is planning to consider a bill (H.R. 2)
to repeal the major health care legislation enacted last March—that
is, the Patient Protection and Affordable Care Act (PPACA)

As a result of changes in direct spending and revenues, CBO expects
that enacting H.R. 2 would probably increase federal budget deficits
over the 2012–2019 period by a total of roughly $145 billion (on the
basis of the original estimate), plus or minus the effects of
technical and economic changes that CBO and JCT will include in the
forthcoming estimate. Adding two more years (through 2021) brings the
projected increase in deficits to something in the vicinity of $230
billion

--------------------------------------------------------------------------------------------------------------------------------------------------

Kaiser Health News : Out of Pocket costs double for seniors on
Medicare

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/04/07/MNKF1IRDL6.DTL

Thursday, April 7, 2011
Medicare costs soar for seniors under GOP plan
Laurie McGinley, Kaiser Health News

Seniors and people with disabilities would pay much more for Medicare
under a new plan by Republicans in the House of Representatives that's
designed to curb the nation's growing budget deficit, a Congressional
Budget Office analysis shows.
For example, by 2030, typical 65-year-olds would be required to pay 68
percent of the cost of their coverage, which includes premiums,
deductibles and other out-of-pocket costs, according to the CBO.
They'd pay 25 percent under current law, the CBO said. Ryan's
proposal, called "The Path to Prosperity," also would scrap the health
care law's Medicaid expansion, repeal a voluntary long-term-care
insurance program and cancel an advisory board the law created to
recommend changes to Medicare spending.

Ryan appears to retain the health law's Medicare payment cuts to
hospitals and Medicare Advantage plans.

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------
GOP Budget proposal raises Taxes on Middle class, and lowers taxes for
the Rich
OP Republican Tax Plan for the Rich will add 2.9 trillion to the
deficit in the next 10 years

http://www.americanprogress.org/issues/2011/04/ta040711.html

also see this link:

http://www.americanprogress.org/issues/2011/04/ryan_tax_plan.html

Paul Ryan wants to lower the income tax rates on the top income
earners from 35% to 25%. This will cost the government 2.9 trillion
dollars in revenues over the next decade. So now Ryan wants to cut
Medicare and Medicaid to help pay for it. His budget will increase
seniors on medicare, out of pocket costs by 6000 dollars a year, to
12000 dollars annually. For those seniors on medicaid, who are in
nursing homes, Medicaid would not be able to cover the cost of their
care. Also his plan would lead to higher taxes (higher health care
costs) for the middle class and poor.

http://www.americanprogress.org/issues/2011/04/ta040711.html


thomaswheat1975
Jerry Okamura
2011-06-23 16:18:22 UTC
Permalink
Short term consequences vs. long term consequences?

"Tom Jigme Wheat" wrote in message news:9b781de2-af17-4fde-bcfc-***@y19g2000prd.googlegroups.com...

Consequences for Medicare and social security if Debt ceiling is not
Raised


http://online.wsj.com/article/BT-CO-20110519-712142.html

MAY 19, 2011, By Erin McCarthy
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--A failure to raise the U.S. debt ceiling
wouldn't be good for the U.S. economy, Austan Goolsbee, chairman of
U.S. President Barack Obama's Council of Economic Advisers, said
Thursday.

If the debt ceiling isn't raised, the U.S. would be forced to default
either on government bonds, Social Security, Medicare or the military,
Goolsbee said while speaking at the Council on Foreign Relations in
New York.
The U.S. hit its debt limit Monday, and Treasury officials expect to
exhaust the federal government's capacity to borrow in August.
Treasury Secretary Timothy Geithner has warned of an economic
catastrophe if the U.S. defaults on its debt.

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Impact of House GOP Legislation re: Medicare Medicaid


http://cboblog.cbo.gov/?p=2128

Congressional Budget Office analysis of GOP Paul Ryan's proposal to
privatize Medicare and make cuts to Medicaid (MediCal)
Under the proposal, most elderly people who would be entitled to
premium support payments would pay more for their health care than
they would pay under the current Medicare system.
CBO estimated the beneficiary’s spending on premiums and out-of-pocket
expenditures as a share of a benchmark amount: what total health care
spending would be if a private insurer covered the beneficiary. By
2030, the beneficiary’s share would be 68 percent of that benchmark
under the proposal, 25 percent under the extended-baseline scenario,
and 30 percent under the alternative fiscal scenario.
Federal payments for Medicaid under the proposal would be
substantially smaller than currently projected amounts.

---------------------------------------------------------------------------------------------------------------------------------------------------

If the Affordable Care Act (ObamaCare) is repealed, it will add 230
billion to Federal deficit
http://cboblog.cbo.gov/?p=1750

CBO’s Preliminary Analysis of H.R. 2, the Repealing the Job-Killing
Health Care Law Act
The House of Representatives is planning to consider a bill (H.R. 2)
to repeal the major health care legislation enacted last March—that
is, the Patient Protection and Affordable Care Act (PPACA)

As a result of changes in direct spending and revenues, CBO expects
that enacting H.R. 2 would probably increase federal budget deficits
over the 2012–2019 period by a total of roughly $145 billion (on the
basis of the original estimate), plus or minus the effects of
technical and economic changes that CBO and JCT will include in the
forthcoming estimate. Adding two more years (through 2021) brings the
projected increase in deficits to something in the vicinity of $230
billion

--------------------------------------------------------------------------------------------------------------------------------------------------

Kaiser Health News : Out of Pocket costs double for seniors on
Medicare

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/04/07/MNKF1IRDL6.DTL

Thursday, April 7, 2011
Medicare costs soar for seniors under GOP plan
Laurie McGinley, Kaiser Health News

Seniors and people with disabilities would pay much more for Medicare
under a new plan by Republicans in the House of Representatives that's
designed to curb the nation's growing budget deficit, a Congressional
Budget Office analysis shows.
For example, by 2030, typical 65-year-olds would be required to pay 68
percent of the cost of their coverage, which includes premiums,
deductibles and other out-of-pocket costs, according to the CBO.
They'd pay 25 percent under current law, the CBO said. Ryan's
proposal, called "The Path to Prosperity," also would scrap the health
care law's Medicaid expansion, repeal a voluntary long-term-care
insurance program and cancel an advisory board the law created to
recommend changes to Medicare spending.

Ryan appears to retain the health law's Medicare payment cuts to
hospitals and Medicare Advantage plans.

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------
GOP Budget proposal raises Taxes on Middle class, and lowers taxes for
the Rich
OP Republican Tax Plan for the Rich will add 2.9 trillion to the
deficit in the next 10 years

http://www.americanprogress.org/issues/2011/04/ta040711.html

also see this link:

http://www.americanprogress.org/issues/2011/04/ryan_tax_plan.html

Paul Ryan wants to lower the income tax rates on the top income
earners from 35% to 25%. This will cost the government 2.9 trillion
dollars in revenues over the next decade. So now Ryan wants to cut
Medicare and Medicaid to help pay for it. His budget will increase
seniors on medicare, out of pocket costs by 6000 dollars a year, to
12000 dollars annually. For those seniors on medicaid, who are in
nursing homes, Medicaid would not be able to cover the cost of their
care. Also his plan would lead to higher taxes (higher health care
costs) for the middle class and poor.

http://www.americanprogress.org/issues/2011/04/ta040711.html


thomaswheat1975

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