The broken Medicare piggybank

I'm guessing that you knew about Medicare.

That it will run out of money within 8 years.

And that President Obama is suggesting cutting 200 to 300 billion in payments to hospitals to help with this deficit.

From the AP, "Hospitals, especially those with many poor patients, say the proposed cuts are unfair and will harm the sick and elderly."

Did you know that Medicare, when begun, promised that all medical costs would be paid to beneficiaries? That there would be no price controls (as there are today) and no governmental decisions as to appropriate treatment (ditto)?

Or that you, by law, can buy private health insurance if you are over age 65? However, there is one catch--there are no private policies available to you now that Medicare exists.

Or that Congress initially refused to interfere with the doctor-patient relationship, but changed this in 1997? Doctors must now opt out of Medicare for two years before accepting private pay from Medicare eligible patients.

May I suggest that you need to know your history?