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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Rarebird who wrote (57824)	9/2/2000 4:15:09 PM
From: goldsnow	Read Replies (1) of 116759

Despite these woes, politicians insist on "saving Medicare." For example, President Clinton and most in Congress stand ready to dump huge chunks of projected budget surpluses over the coming 15 years into Medicare. This amounts to a massive de facto tax increase assuming that budget surpluses should be returned to the taxpayers. Medicare would not be reformed in the least. Instead, the latest craze is to expand Medicare coverage to prescription drugs. It is worth noting that, as of 1997, private funding covered 85.3 percent of national expenditures on drugs and other medical nondurables, versus 94.5 percent in 1970. Meanwhile, private out-of-pocket payments over this period dropped from 89 percent to 48.7 percent. The continuing relatively high level of private financing is positive, but the dramatic drop in out-of-pocket payments serves as a warning. If government moves in to pick up much of the tab for prescription drugs, the third-party payment problem will worsen, leading to higher costs not only for taxpayers but also for all health care consumers. Government price controls and restricted choice would be inevitable. washtimes.com

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