Geithner making shit up again - this time about Medicare

[MannyGoldstein]

Earlier today, somebody posted the great news that the latest report from the Medicare trustees shows Medicare is going to save a lot of money because of the health care "reform" bill.



That struck me as odd, because the only potential cost savings that I knew of was the "Cadillac Tax", which will raise taxes on many in the middle class (surprise).

Digging a little, sure enough there's a big turd in the Medicare trustee's punch bowl.

Turns out that the trustees are led by who other than the Middle Class's best friend, Timmy Geithner! So, Geithner's cabal is claiming victory!

Strangely, the guy who's actually in charge of figuring out what's happening to Medicare's money, its chief actuary Richard Foster, has a 3-page appendix in the report where he calls "bullshit!" He writes:

"the financial projections shown in this report for Medicare do not represent a reasonable expectation for actual program operations in either the short range (as a result of the unsustainable reductions in physician payment rates) or the long range (because of the strong likelihood that the statutory reductions in price updates for most categories of Medicare provider services will not be viable)."

Dear God! I thought we ended this stuff when Bush left office!

[Demeter]

1. It Worked for 8 Years

8 horrible, damaging, bitter years. Surely it will keep on working...

[ProSense]

2. "the only potential cost savings that I knew of was the 'Cadillac Tax'"

The Cadillac Tax has nothing to do with Medicare.

Also, it's not the only cost savings.

The somebody who posted the great news

[MannyGoldstein]

3. a. That's why I said it was odd

b. Name one

[SpartanDem]

4. Way to take the Republicans side

WASHINGTON — Savings projected under the landmark health care law signed by President Obama this year have improved Medicare's financial projections, but Republican critics and even the program's chief actuary say the new prognosis is too rosy.
More than $500 billion in Medicare savings projected under the law — the result of cuts to some providers and the popular, all-inclusive
and Foster projection is quite cut and dry as you make it.


Medicare Advantage program — should help extend the program's solvency by 12 years, to 2029, its trustees said Thursday.

Not so fast, Republicans responded, noting that the same savings are being used to help extend health insurance to 32 million more Americans. "If you steal over a half-trillion dollars from Medicare to fund another unsustainable entitlement, Medicare won't be better off," said Sen. Orrin Hatch, R-Utah.Richard Foster, chief actuary for the Centers for Medicare and Medicaid Services, said Congress still must find a way to avoid a proposed 30% cut in payments to doctors over the next three years. He added that most health care providers aren't likely to improve their productivity as much as forecast by the law.

"The financial projections shown in this report for Medicare do not represent a reasonable expectation for actual program operations," Foster wrote. "The recession adds a significant further element of uncertainty to the trust fund projections."

The Medicare trustees' report and another on Social Security included good and bad news:

•Medicare's projected solvency until 2029 and Social Security's until 2037 give Obama and lawmakers time to come up with long-term solutions to the looming problem of an aging society, a shrinking workforce and rising health care costs.

"The heavy lifting remains," said Robert Greenstein, executive director of the liberal Center on Budget and Policy Priorities. "Nevertheless, this is a very important improvement."

http://www.usatoday.com/news/washington/2010-08-05-medicare-social-security_N.htm

[MannyGoldstein]

5. That's an idiotic claim

If you are a vegetarian, I should say "Way to take Hitler's side"?

Sheesh!

Also, you're missing an apostrophe. Since you punctuate like a Republican...

[Vinnie From Indy]

6. LOL!

Give 'em hell Manny! Cheers!