In Nevada's hotly contested Senate race, Majority Leader Harry Reid is attacking Republican Sharron Angle, saying she wants to "gut" Medicare. But Mr. Reid has already gutted it. He and his colleagues, including Nancy Pelosi along with Gary Peters did so by passing ObamaCare.
In the analysis accompanying the recently released Annual Report of the Medicare Board of Trustees, Richard Foster, Medicare's chief actuary, noted that Medicare payment rates for doctors and hospitals serving seniors will be cut by 30% over the next three years. Under the policies of ObamaCare, by 2019 Medicare payment rates will be lower than under Medicaid. Mr. Foster notes that by the end of the 75-year projection period in the Medicare Trustees Report, Medicare payment rates will be one-third of what will be paid by private insurance, and only half of what is paid by Medicaid.
Altogether, ObamaCare cuts $818 billion from Medicare part A (hospital insurance) from 2014 - 2023, the first 10 years of implementation, and $3.2 trillion over the first 20 years. Adding in cuts from Medicare Part B (physicians fees and other services) brings the total cuts to $4.95 trillion over the first 20 years.
Mr. Foster reports that two-thirds of hospitals already lose money on Medicare patients. Under ObamaCare it wil get much worse. Many doctors, surgeons and specialist providing critical care to the elderly will cease serving Medicare patients.
Source: Mr. Larry Hunter, President of the Social Security Institute and Mr. Peter Ferrara, Director of entitlement and budget policy at the Institute of Policy Innovation. Sept. 8, 2010.
"Cpngressman, you have the nerve to go to Senior Centers and bash Rocky Raczowski who understands the ramification you put us in, and you tell those seniors how well they will be taken care of, when in reality they will be much worse off. Tell me Congressman, how do you sleep at night or do you just stay up and count the contributions given to you to make this healthcare bill pass?
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