Wednesday, June 01, 2011

A Plan to Keep Medicare From Going Broke

It is no secret that Medicare is going broke.  Costs are rising faster than revenue from Medicare taxes paid by existing workers.  Each time a member of the Boomer generation retires and becomes covered by Medicare, the system's costs increase due to increase in the number of people covered while its revenues decrease as fewer people are working and paying Medicare taxes.

Left unchecked, the system will soon go broke.  To prevent this Wisconsin Congressman Paul Ryan and his fellow House Republicans in their budget proposal, known as A Road Map for America's Future, have included a section with a very good proposal to solve the Medicare problem and keep it from financial collapse.  

Congressman Ryan explains the plan for Medicare in the video above.

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