PRESCRIPTION DRUG BILL 'MAY BE THE MOST FINANCIALLY IRRESPONSIBLE LAW IN 40 YEARS';

http://www.drudgereport.com/flash3.htm ^ | March 1, 2007 | Edcoil

[edcoil]

Bill Will Add $8 Trillion to Long-Term Medicare Obligations - That Could Already Bankrupt the U.S.

The U.S. government's top accountant says the law that added a prescription drug benefit to Medicare may be the most financially irresponsible legislation passed since the 1960s.

U.S. Comptroller General David Walker says Medicare -- barring vast reform to the program and the nation's healthcare system -- is already on course to possibly bankrupt the treasury and adding the prescription bill just makes the situation worse. Walker appears in a Steve Kroft report to be broadcast on 60 MINUTES Sunday, March 4 (7:00-8:00 PM, ET/PT) on the CBS Television Network.

[edcoil]

So you're simply a modern day beggar.

So much pride in a past generation, brings a tear to my eye.

[EGPWS]

Bill Will Add $8 Trillion to Long-Term Medicare Obligations - That Could Already Bankrupt the U.S.

So what?

Although I don't need it, since my total tax burden is mid 50%, I'll take it!

(I'll just consider it a behind the scene P&L gain) /sarcasm

[rock58seg]

cry if you want to.
It's my party.

All the way to the bank with my tremendous ill gotten gains. Might not even get there since it's about equal to a couple of beers a day.

[edcoil]

I guess future generations only hope is for you to have a short trip.

Working hard all your life being productive with what seems is the goal of having the government take from future generations as you go on welfare.

enjoy your party.

[rock58seg]

Aw!

Now you have gone into a snit.

You keep exercising those bad vibes and you may aggravate yourself into never having your chance to recover from the Gubmint teat, what it has and will extort from you, on mine and others behalves.

A little story:
My grandfather owed my father some money. Said he would repay him ibn his will. When he died he left sizable bequests to all his other children except my mother, thereby not repaying my father. It was a thorn in Dad's side for over thirty years. One day tired of my fathers grumbling about it. I pointed out that they had never liked each other, and that for a relatively small amount of money my Gfather had managed to aggravate my father for over thirty years, after his death.

If you think that I or anyone else will pass up, a lousy $700 a year just so you will feel better, you need a better drug plan than I have. However I'll be aggravating you a long time.

[poobear]

Exhausted Dusty ;D!

[corlorde]

Lots of things will need to be "fixed" like Social Security, Medicare, Medicaid, the Education system and No Child Left behind with Democrats and Republicans falling all over themselves and racing for our checkbooks.

[cherry]

but notice even with this ridiculous bill the Rats and the MSM still want more.....its never enough for them....

being in my 50's I state emphatically that older people for the most part are better off than all other groups...they get more free money from Govt then anyone, and its something like $10 to every senior for $1 to a child....

its got to stop....

I fully believe in indexing SS and Medicare...I fully believe its almost immoral to be making my taxes and my kids taxes and my grandkids taxes( if I had any grandchildren) higher so some senior getting multiple pensions and discounts and freebies can get even more free stuff...

its unconscionable...its insanity...

[cherry]

I fully expect that SS and Medicare should be helpful to those that have little or nothing and NEED it, just as I expect that after working for so many years, it will be there for me and mine .....

what gripes me is that so many getting SS and Medicare DID NOTHING to deserve it.....how many elderly never contributed one dime to Ss or Medicare yet are living out their lives sometimes 20 or 30 yrs getting check after check after check....

and we won't even talk about the illegals and even the legal immigrants, some who can't produce a birth certificate but are conveniently 65 yrs old.....

[cherry]

fella....I am a working stiff who pays for one dtr and one husband thru my work, because my husband was screwed by the great American capitalist society that allows billinaires to by companies, bankrupt them and shove their pensions responsibilties to the govt...SO....

I am in no mood to feel any sympathy for people on the govt dole when they don't need to be....

and the fact that I pay over $600 MONTHLY just to insure two people in my family compared to your NET GAIN really, really FRUSTRATES me...

and maybe you're not aware, but your benefits are driving my premiums thru the roof, but gee, enjoy your net gain.....

[poobear]

"I fully expect that SS and Medicare should be helpful to those that have little or nothing and NEED it, just as I expect that after working for so many years, it will be there for me and mine ....."

I wouldn't hold your breath. I couldn't find the link but something like by the year 2017 there will only be 2 or 3 workers contributing for each recipient of SS benefits, down the road even less. Unless there are significant benefit reductions or significant increases in contributions it will be bankrupt by the time you or I qualify.

Like I said before, the Boomers were the greatest contributers to this scheme and are being blamed for its failure. It was doomed all along. Save your money and invest if you can but don't count on the government for anything unless you do want this country to be a poor socialist country.

Good luck.

[edcoil]

Aggravating everyone is fine, just don't lie saying you are a productive citizen.

Clearly you are a selfish abuser of the system so I am not impressed with anything about you except, your self delusion.

[rock58seg]

Ed baby. I'm retired. I don't even want to pretend I produce anything between naps. (Well there are my fruit trees. At least I don't have to leave the deck to watch them grow.)

Since I grew up on a farm, I have been working since I was six. I used the word "productive" as opposed to "high wage earner" because they are not necessarily the same thing.

Yes S.S. was part of my retirement planning. To ignore it's existence would be stupid, and if I were stupid, I would get hysterical about the cost of the drug bill.

Oh! In my numbers I forgot to include the approximately $3000.00 annually they reduced my S.S because I retired early. Gee, now I am beginning to feel bad. Seems like along with taxes, they are taking several thousand more more than I am receiving.

Gotta run. Need to write my Congress people.