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We have all been hearing in the news that changes in Medicare are necessary.This could look devastating for anyone between the age of 45 and 55, or even younger. The health costs of seniors have skyrocketed from $111 billion in 1990 to $ 509 billion in 2009. With the number of Americans eligible for Medicare expected to soar from 47 million today to 62 million in 2019, annual Medicare spending will increase to $895 billion by the end of the decade. Last year the Medical Board of Trustees warned Congress that by 2029, the Part A trust fund, the part which pays for hospital and hospice for elderly, will be exhausted.
After learning these facts, combined with the news that Standard & Poor just lowered the U.S. credit outlook from stable to negative, I am utterly frustrated that we see partisanship between Republican (Ryan's Plan ) and Democratic parties (Obama's Plan) . We need solutions now to control the rise in medical cost, not in 10 years. These measures have to be unpopular, but doing nothing will be devastating to the American middle class.
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