Myths about Medicare, the Deficit, and Consumer ChoiceBefore Medicare began in 1965, many American senior citizens – and their children – struggled to pay for their doctor bills. Ever since, Medicare’s been an American success story. Why, then, do so many Beltway pundits and members of Congress – including Mitt Romney’s running mate, Rep. Paul Ryan, – go after it? Some of […]
Medicare Losses Today and TomorrowThe single largest transfer payment that the government makes is to the Medicare program. For the calendar year of 2011, the Medicare premium and interest receipts were $306.7 billion, while the expenditures were $549.1 billion, requiring a draw on the general funds of the government of $242.4 billion.