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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (672624)	2/17/2005 8:56:10 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769667

Alarmingly, it's not even Social Security that may blow up the yield curve on the long end. It's Medicare. A new Harvard study reports that since 1990, medical spending in America has gone up from $696 billion to $1.7 trillion last year, or about 15% of GDP. The Bush Administration's prescription drug benefit is going to end up adding another $1 trillion to the Medicare burden in the next ten years. Not only is Medicare going to eclipse Social Security in terms of Federal spending, it might go bankrupt even sooner. The Harvard study projects that if the Medicare hospitalization trust fund will run out in 2019, well before the Social Security trust fund.