How Much Will Medicare Cost In 2020?
” i told him, “i don't know, but i do know you don't have to worry about your social security.
” he said, “why?
” i said, “because you're taking all the money out of medicare before it can get to your social security.
” i was looking at his social security.
he's a social security recipient.
in 2020, social security tax will have grown to 60% of the social security payment.
in other words, social security benefits will have been cut in half.
i think it's a clear case that the medicare trust fund is a fraud.
it's a fraud based on a misrepresentation of the financial position of medicare.
that's for the elderly.
com >> what about the so-called medicaid trust fund?
that's the trust fund that's supposed to support the medicaid program.
marsh >> the medicaid trust fund is a fraud. it's a fraud based on a misrepresentation of the financial condition of medicaid. just like the so-called medicare trust fund, the medicaid trust fund has been robbed to pay for other government programs. it's being stolen by the federal government.
cnsnews.com >> you're shaking your head over here. you do not agree?
marsh >> well, i'm shaking my head because i think he is mistaken. any actuary that i know would not characterize the medicaid trust fund as being in surplus. it's in deficit from the very beginning.
cnsnews.com >> according to the most recent figures i looked at, right before the current recession, in 2007, the medicaid fund was in surplus of $10 billion.
marsh >> well, i'm not surprised. we had a lot of money going into the treasury from the growth of the economy.
the problem is that the treasury is spending the money and not putting it in the trust fund.
cnsnews.com >> so you don't buy the argument that medicaid is in surplus?
marsh >> no. the treasury is stealing the money.
cnsnews.com >> this is what the government says. let me read from the most recent report of the office of the actuary of the social security administration. it says this, “total cash flow into the fund from federal contributions, interest earnings, and other sources exceeded total cash flow out from expenditures, benefit payments, and administrative costs. the medicaid trust fund is in surplus.” again, this is the most recent report of the office of the actuary of the social security administration.
marsh >> i think he has his math wrong. there's no surplus in the medicaid trust fund. they are saying there is a surplus but they're not putting the money into the fund. they're using the money for other purposes.
com >> i want to ask you, paul.
you have said that you don't know what the future holds in terms of medicare, but what about medicaid?
do you believe that in the future medicaid is going to be cut?
marsh >> yes.
cnsnews.com >> what do you base that on?
marsh >> not only is it going to be cut, it's going to become insolvent. the medicaid program is going to go broke in 2017 – 2017. it's going to be insolvent in 2017.
cnsnews.com >> so, in your view, there is no question that medicaid is going to be cut.
marsh >> it's already being cut. it's already being cut. one of the things it's being cut off is the provider reimbursement. the hospital reimbursements. they're being cut off because it's not affordable.
com >> what do you do to fix social security or medicare or medicaid?
how do you solve the problem?
marsh >> well, first of all, you've got to keep your hands off the programs. you have to stop stealing the money. you have to stop stealing the money from the trust funds. if you stop stealing the money from the trust funds, medicare is solvent.
cnsnews.com >> and medicaid?
marsh >> medicaid is solvent, too.
cnsnews.com >> how much time do you have?
marsh >> what?
marsh >> i have all the time i need.
cnsnews.com >> i am not going to take too much of your time. let me ask you, paul. what about the argument that is frequently made about social security that if you don't do something with it now, when the baby boomers are going to start retiring, it's going to be a disaster?
marsh >> it is a disaster now.
cnsnews.com >> it's a disaster now?
marsh >> it's a disaster now. it is going broke. it is going to be cutting benefits.
cnsnews.com >> now, you're shaking your head. what's the problem?
marsh >> it's a fraud. it's a fraud. medicare is a fraud. it's being robbed by the government every year.
com >> but what about social security?
if you don't fix it now, when the baby boomers are retiring, it's going to be a disaster.