According to a report by the Associated Press, Rep. Paul Ryan (R-Wis.), Chairman of the House Budget Committee, is pushing the proposal to test the degree of support it will generate among Republicans in the Lower House.
The plan calls for the replacement of the current open-ended system with one that issues vouchers to seniors which they can use to purchase private medical insurance from a list of options. Under the proposed measure, individuals currently on Medicare and those who are within 10 years of getting coverage would experience no change in benefits. Those aged 54 years and younger will experience the change, the AP report said. They will be given fixed payment by the federal government to purchase medical insurance from an authorized provider.
House Republican Conference Chairman Jeb Hensarling (R-Tex.) was quoted by the National Journal as saying, “Unless you deal with Medicare, unless you go into Medicaid, unless you deal with Social Security for future generations—programs that were a great comfort to my grandparents and parents are morphing into a cruel Ponzi scheme for my 8-year-old daughter and my 7-year-old son.”
During last year’s congressional polls, Medicare took center stage as one of the hotly debated topics. GOP members criticized Democrats for slashing Medicare to fund the Obama administration’s health overhaul.
The AP report said privatizing Medicare would cut spending much further. Senator Chuck Schumer (D-N.Y.) said “Anyone who doesn’t think privatization will mean severe cuts to Medicare benefits, I have a bridge I’d like to sell them.” Shumer said “(Medicare) privatization will make the cuts previously proposed by either party look tame.”
Meanwhile, a recent poll conducted by AP and GfK showed a 51 percent opposition to the voucher plan with only 35 percent expressing their support. The survey also revealed that strong opposition came from seniors and baby boomers. However, 47 percent of those who were born after 1980 expressed support to the plan as against 41 percent of the same age group who opposed it.
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TOPIC: Privatize Mulling
Bad legislation and bad idea.
“ Privatize” Medicare today means “Privatize” Social Security tomorrow!
Unless I’m mistaken, that is what the GOP wants to do (isn’t it?), to privatize Social Security? And that is so that American citizens can then invest in the companies of the rich so we can add again more profits to their bottom line and make them richer yet…? Unless what we have in mind is to line the pockets of the wealthy, I, for one, do not believe I would be doing my child or my grandchildren any favors by such a plan…just saying….