President Joe Biden recently unveiled his $7.3 trillion budget proposal for next fiscal year. He has pitched his plan as one that would “preserve Medicare benefits and the Medicare trust fund.”
It’s a nice soundbite. But it’s not the whole story. The president’s budget would raise taxes without solving Medicare’s financial woes. There are better ways to shore up Medicare.
For years, Medicare’s Board of Trustees has warned of the imminent bankruptcy of the entitlement’s Part A hospital insurance trust fund. According to the latest projection, the fund will run out of money by 2031.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Medicare Is in Serious Need of Reform. Biden’s Budget Plan Won’t Cut It.
Sally C. Pipes
President Joe Biden recently unveiled his $7.3 trillion budget proposal for next fiscal year. He has pitched his plan as one that would “preserve Medicare benefits and the Medicare trust fund.”
It’s a nice soundbite. But it’s not the whole story. The president’s budget would raise taxes without solving Medicare’s financial woes. There are better ways to shore up Medicare.
For years, Medicare’s Board of Trustees has warned of the imminent bankruptcy of the entitlement’s Part A hospital insurance trust fund. According to the latest projection, the fund will run out of money by 2031.
Click to read the full article in Townhall.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.