Monday, July 26, 2010

You better sit down kids senior citizens

Wall Street Journal: "Health Law Augurs Transfer of Funds From Old to Young"

Since the creation of Social Security and Medicare, younger workers have funded programs for the elderly. It's a compact in which workers paid for retirees with the understanding that they'd be looked after by the generation behind them.
The health overhaul diverges by tapping a program for the elderly to help provide insurance to 32 million Americans of younger generations. Nearly half the funding for the law is supposed to come from paying lower fees to hospitals, insurers and other health-care providers that participate in Medicare, the federal insurance program for Americans age 65 and older, as well as younger disabled people.
Then there's this from the Christian Science Monitor: "Deficit cutting axe may fall on Social Security." Dagnabbit.

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