Skip to comments.Obama's Faulty Medicare Math And The Cost To Seniors
Posted on 10/18/2012 3:25:04 AM PDT by tobyhill
One of the primary ways by which President Obama's health law funded its dramatic increase in government spending was by making significant cuts to Medicare. But Obama insists otherwise.
"ObamaCare actually strengthened Medicare," he told the AARP last week, by using the law's Medicare cuts "to lower prescription drug costs, and to offer seniors on Medicare new preventive services like cancer screenings and wellness services." But for every $500 that ObamaCare spends on prescription drugs and preventive services, the law cuts other Medicare spending by $7,500.
Here's how the math works. According to the Congressional Budget Office's most recent estimates, over the next 10 years ObamaCare increases net spending on Medicare's prescription drug program by $48 billion. The law also spends $4 billion over that period on preventive services, for a total of $52 billion in new spending.
(Excerpt) Read more at news.investors.com ...
Seniors who want to avoid disaster should choose a medigap policy from a private insurance company - the "F" plan offers protection against Obama and his insanity.
I work in a nursing home and already see the effects of Obamacare on medicare. Any senior who votes for Obama is just plain stupid.