Medicare Reports It Will Reach Insolvency 5 Years Ahead of Schedule

Medicare trustees revised forecast for insolvency estimates Medicare will be insolvent by 2024, 5 yrs sooner than they thought Medicare would become insolvent a year ago. What changed their forecast, namely the “slower economic recovery will reduce Medicare payroll tax revenues”.

Apparently the McJobs recovery isn't from the Great Recession is accelerating the pace of Medicare's impending insolvency. The GOP no doubt already have a handle on this. They will work hard to reduce Medicare spending. Presently, Medicare trustees are forecasting Medicare spending to increase from 3.6% GDP in 2010 to 5.6% GDP in 2035. Count on the republicans to cap those Medicare spending increases.

From the CBPP May 13, 2011

http://www.cbpp.org/cms/index.cfm?fa=view&id=3494