We’re hearing a lot about this debate over National Healthcare and I think it’s important while we’re talking about turning over one-sixth of our economy to the Federal Government that we take some time and look back at entitlement programs that are already in place in order to survey their track record. Let’s start with Social Security that’s underfunded by an estimated $100 trillion according to its trustees and is going to be depleted by 2037. Now that you see how well they’ve done with Social Security, let’s talk about Medicare. For those of you who remember, Medicare was brought into play in 1969 by Pres. Lyndon B. Johnson and at that time was estimated to cost $6.8 billion. Today this Federal program costs us approximately $455 billion with $36 trillion in unfunded liability. How about Medicaid? This Federal program cost us approximately $277 billion this year and is rising at about 17% a year. Now onto a more recent example: S-CHIP. That’s the health insurance program for children and families that are under the poverty level. The estimated cost of this program over the next 10 years is $65 billion. So we have $52 trillion as of today in unfunded Medicare and Social Security benefits and we’ve got an annual economy of $16 trillion. This begs the question, how well do you think the Feds are going to handle Health Care?
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We are excited to have Cary Hall and the Health Insurance Advocate Show join our programming family.
There is no subject more timely and of interest to our 1340 listeners than the issues involving our health
care and insurance. Cary brings to our airwaves a voice of reason and authority on this subject.
I look forward to tuning in to the HIA Show and listening each week.
Welcome, Cary to the 1340 KADI family.
There is no subject more timely and of interest to our 1340 listeners than the issues involving our health
care and insurance. Cary brings to our airwaves a voice of reason and authority on this subject.
I look forward to tuning in to the HIA Show and listening each week.
Welcome, Cary to the 1340 KADI family.
Mark Hill
Station Manager
1340 AM KADI
Springfield, MO
Station Manager
1340 AM KADI
Springfield, MO
Government Entitlement Programs: A Brief History
We’re hearing a lot about this debate over National Healthcare and I think it’s important while we’re talking about turning over one-sixth of our economy to the Federal Government that we take some time and look back at entitlement programs that are already in place in order to survey their track record. Let’s start with Social Security that’s underfunded by an estimated $100 trillion according to its trustees and is going to be depleted by 2037. Now that you see how well they’ve done with Social Security, let’s talk about Medicare. For those of you who remember, Medicare was brought into play in 1969 by Pres. Lyndon B. Johnson and at that time was estimated to cost $6.8 billion. Today this Federal program costs us approximately $455 billion with $36 trillion in unfunded liability. How about Medicaid? This Federal program cost us approximately $277 billion this year and is rising at about 17% a year. Now onto a more recent example: S-CHIP. That’s the health insurance program for children and families that are under the poverty level. The estimated cost of this program over the next 10 years is $65 billion. So we have $52 trillion as of today in unfunded Medicare and Social Security benefits and we’ve got an annual economy of $16 trillion. This begs the question, how well do you think the Feds are going to handle Health Care?