June 13, 2003

It's time to get over the notion that anybody is going to be cutting your taxes. Medicare is is serious crisis. Not only must the country pay off its already staggering debt to lenders, it must prepare to pay the endless bills of the spoiled generation, as these fat and happy folks begin to fall off their slot-machine chairs and are taken to the doctor for tests and more test, pills and more pills. Money quote:

Today, Medicare consumes 12 percent of the federal budget and similar shares of most state budgets. By 2030, it will devour 28 percent to 38 percent of federal taxes, based on the latest projections from Medicare's board of trustees. This means substantial tax increases ..
Posted by Greg Ransom