Undoing Obamacare May Backfire on Romney, Bankrupt Medicare
FILED TO: Politics
The Daily Banter Headline Grab (via The AP):
GOP presidential candidate Mitt Romney’s new promise to restore the Medicare cuts made by President Barack Obama’s health care overhaul law could backfire if he’s elected.
The reason: Obama’s cuts also extended the life of Medicare’s giant trust fund. By repealing them, Romney would move the program’s insolvency eight years closer, toward the end of what would be his first term in office.
Instead of running out of money in 2024, Medicare’s trust fund for inpatient care would go broke in 2016 without the cuts, according to estimates by the program’s own experts.
That could leave a President Romney little political breathing room to execute his own Medicare plan. Outside experts say it could force deeper cuts, and sooner.
Issue 13 of the Banter Magazine is now out! Right now, you can try a membership for only 99 cents!