Overview for insolvency

Obama's Big Idea: Bankrupt Medicare Faster

The president has spoken repeatedly about how well Medicare works and has promised seniors it will be strengthened by his plans. But Medicare is going bankrupt and is unsustainable: It will be $37 trillion in deficit by the year 2050. How can Medicare avoid bankruptcy? It cannot with the current …

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Written by Stanley Goldfarb on Thursday August 27, 2009