Thursday, December 10, 2009
Obama seeks votes in Florida
One would have thought that the way to address the looming bankruptcy of Medicare would not be to double down on its unfunded liabilities, but that appears to be precisely what the Obama administration proposes to do by allowing persons over the age of 55 to buy into Medicare.
If this goes through, it will be a bonanza for those who wish to retire early (perhaps exacerbating the financial woes of social security and impairing economic recovery). I know quite a few people who want to retire and have the money to support themselves, but can't hang it up because they literally could not purchase insurance. They may have preexisting conditions or can't afford to buy insurance that is actuarily priced for persons over 55.
Now the Democrats have solved their problem.