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Home Publications Blogs Beat the Press Will the Washington Post Ever Tell Readers that the Republican Medicare Privatization Plan Would Add $34 Trillion to the Cost of Buying Health Care in Retirement?

Will the Washington Post Ever Tell Readers that the Republican Medicare Privatization Plan Would Add $34 Trillion to the Cost of Buying Health Care in Retirement?

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Saturday, 07 May 2011 07:43

That is what the projections from the Congressional Budget Office (CBO) imply. And, just to be clear, this is the additional waste that CBO projects would result from running the program through private insurers. The figure does not include roughly $5 trillion in expenses that would be transferred from the government to insurers.

The $34 trillion figure comes to $110,000 for every man, woman, and child in the country. It is almost 7 times the projected Social Security shortfall. While the Post has devoted endless space (in both its news and opinion sections) hyping the need to fix Social Security, it has never once mentioned this much larger cost to the country projected by CBO. Instead its articles on the Republican Medicare plan have been entirely of the he said/she said variety and discussions of its political prospects.

A serious paper would discuss the substance. The Post's readers don't have more time to look into this issue than its reporters.

Comments (2)Add Comment
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written by foosion, May 07, 2011 8:15
Will the Washington Post Ever Tell Readers

No
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written by S.D. Jeffries, May 07, 2011 9:26
According to the CBO, the Ryan plan would not balance the federal budget for more than 30 years if it were enacted WITH its Medicare changes intact. Since turning Medicare into a voucher program is not going to happen (unless the Republicans take the Senate by a veto-proof majority, keep the House and/or also take the presidency in the 2012 election), the Ryan plan NEVER balances the budget. The only proposal that does is the Congressial Progressive Caucus proposal, which no one is mentioning, because it's not what the D.C. power brokers want. It would raise taxes on the top earners and cut the military budget, among other things, i.e., it makes too much sense and it's what the public wants. It also leaves Medicare, Medicaid and Social Security alone, which is obviously unacceptable to the "serious" people.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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