Economics, Entitlements, Pethokoukis

Here is the big driver behind government healthcare spending

Charles Blahous makes a number of great points in an e21 essay on the fiscal future of Medicare — and the US budget. While it is true, as a recent New York Times piece notes, that the Medicare spending projections has declined quite a bit since 2006 (see above chart), the program’s financial problems are still enormous. The whole piece is worth reading, but this is a particularly noteworthy bit given all the attention on the need to reduce health cost inflation. read more >

Gene Steuerle
Economics, Entitlements, Pethokoukis, Taxes and Spending

The fiscal math doesn’t work: Average 50something couple will pay $1 million in payroll taxes and get $1.4 million in Social Security and Medicare benefits

The Urban Institute’s Eugene Steuerle and Caleb Quakenbush: Our updated numbers for lifetime Social Security and Medicare benefits and taxes are now available, based on the latest projections from the Social Security and CMS actuaries for the 2013 trustees’ reports for OASDI … read more >