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Medicare bills are bad policy, and bad politics

When Republicans unveiled the "Contract with America" in 1994. they claimed it would be "the end of government that is too big, too intrusive and too easy with the public's money." Hmm . . . the $400 billion Medicare "reform" that Congress is working on is long on spending, big on government and short on reform. The Medicare trustees' own estimate for the value of unfunded liabilities, without the new prescription drug benefit, is around $38.3 trillion. That money will have to be paid through either massive tax increases or sharp spending cuts in the future.

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Medicare bills are bad policy, and bad politics

BY Michael Chahinian

When Republicans unveiled the "Contract with America" in 1994. they claimed it would be "the end of government that is too big, too intrusive and too easy with the public's money." Hmm . . . the $400 billion Medicare "reform" that Congress is working on is long on spending, big on government and short on reform. The Medicare trustees' own estimate for the value of unfunded liabilities, without the new prescription drug benefit, is around $38.3 trillion. That money will have to be paid through either massive tax increases or sharp spending cuts in the future.

07/23/2003