Saturday, April 30, 2011

Back to Poverty!

In the early 1960's, about 30% of seniors lived in poverty.  The combination of Social Security and Medicare cut by more than half the seniors' poverty rate.

Today 56% of Americans have savings of less than $25,000.  Median-income families are straining to pay to fill gas tanks and tuition bills.

Turning medicare into a voucher that year by year becomes more and more inadequate to pay the cost of insuring someone over 65 years of age is a guaranteed recipe for going back 50 years, prior to Medicare, when nearly one out of three seniors were poor.

Sometimes reform ideas are dangerous junk.

1 comment:

  1. Very scary John. Weren't these the same people going on about "death panels" during the run up to health care reform? Under this proposal, American seniors wouldn't even have the luxury of pleading their case to a death panel. I realize that something has to be done, but haphazardly throwing our greatest generation to the curb can't be the right way to go about it.

    -Mike Knapp
    Knapp Acquisitions & Production
    Kittanning, PA