Sheldon Richman on Why Medicare Is Doomed


When Democrats accuse Republicans of wanting to "end Medicare as we know it," they are right. But Democrats do too. As Sheldon Richman explains, "Medicare as we know it" is no longer an option. The program has tens of trillions of dollars in unfunded liabilities. It threatens working generations with a crushing tax burden. Because of the relative size of the Baby Boom generation, soon there will be only two workers to pay each retiree's medical bills. Younger people might have other plans for their money. So something's got to give, Richman writes, no matter which party is in power.