Medicare has been providing health insurance to people since the Social Security Act was signed into law in 1965. Signed by President Lyndon B. Johnson as an amendment to the Social Security Legislature, Medicare has become one of larger health programs to help people age 65 and older and those with disabilities age 65 and younger. The program has significantly helped these people meet their healthcare needs. Today our economy is under financial stress with a debt accumulation of approximately $54 trillion, of which eighty trillion is Medicare's responsibility alone. This debt impacts the financial financing of Medicare beneficiaries, which is bad for many people who have poverty-level incomes. Now the only way we can deal with these Medicare cuts is to pay out of pocket. The younger generation has a duty towards the elderly and our disabled brothers. Even though it seems unfair for us to pay for Medicare, it is up to us to keep the program going for these people. Unlike Social Security, some of Medicare's costs come from federal revenue. This means it comes from our taxes. With the deficit at a high rate, federal revenue must spend as little as possible to service our debt. This also means that we, the taxpayers, have to pay more to meet the debt requirements. “The way they work is that as costs increase, they only result in greater burdens on taxpayers for future generations.” (Angle, 2011). For Medicare, the debt crisis affects more than most federal revenues, says Paul Ryan, chairman of the House Budget Committee: "The day of reckoning is just around the corner. Because dozens of trillions of dollars of unfunded liabilities are right there in front of us,” he also states. “Medicar...... middle of paper ......niors, Fox News- Politics, Cox, He, Mclean, Russel, Tse, Waananen. (2011). Charting the American Debt Crisis, New York Times- Politics Hogan Christopher, Lunney June, Gabel Jon and Lynn Joanne, Costs of Care for Medicare Beneficiaries in the Final Year of Life, Health Affairs, 20, no.4 (2001):188- 195,Wilensky Gail R Health Affairs, 22, no .6 (2003):8-10H J Aaron and RD Reischauer, The Medicare Reform Debate: What's Next?, Health Affairs, 14, no.4 (1995) :8-30,(MA Kelly.., D Angus,., DB Chalfin,., E. D Crandall,., D Ingbar,., W Johanson,., & J. S Vender,., (2004). American Psychological Assoc), Paying For Performance: Medicare Should Lead (2003), 22(6), 8-10.),
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