I gave a presentation today to the Michigan Intergenerational Network at Madonna University on the economic prospects of Medicare (U.S.). Thanks to the Madonna Univ. Gerontology Department for support and assistance. For a downloadable and viewable copy of the presentation, see: https://jimluke.com/course-resources/presentations/busting-myths-about-medicare/.
James Kwak at Baseline Scenario asks "are Social Security and Medicare programs that benefit the elderly?" He then proceeds to answer his question with a no and lengthy (but worth reading) explanation in "The Elderly" for Beginners. I agree and I want to emphasize a couple of points he makes. As Kwak points out, much … Continue reading Why Students and Young People Should Care About Social Security
I think it's always important for policy wonks, politicians, and tenured professors to careful when discussing recessions and unemployment. It's very easy from the safety of a secure income to focus on the data and the numbers. But behind the data and numbers are real humans. Recessions and high unemployment have real, human costs. It's … Continue reading Recessions Are Matters of Life and Death
My Mother was a big advocate of patience. She was the anti-crisis. In response to any panicked concerns I had about the some "crisis" that was coming, we always counseled "we'll cross that bridge when we get to it". And sure enough, there was usually either no problem eventuallly crossing the bridge or there was … Continue reading What Budget Crisis? Let’s Do Nothing Now
Kash at Streetlightblog and Angry Bear explains easily with one graph both how the federal budget got to be in such imbalance (deficit) relative to GDP and how insignificant the so-called "massive stimulus" was in 2009-10. I think that when trying to understand the federal government's fiscal situation, at least on the spending side, it … Continue reading Real Causes of Federal Spending Growth: Military and Healthcare
U.S. Healthcare Spending 2009 - Where It Came From: U. S. Healthcare Spending 2009 - Where It Went and How It Was Used Source and downloadable PDF for the above at http://www.cms.gov/NationalHealthExpendData/downloads/PieChartSourcesExpenditures2009.pdf