Americans for Prosperity responded to the latest Social Security and Medicare Trustees report which cast a dire forecast on Medicare’s finances.
Like last year’s trustees forecast and the one before it, the latest report projects that Medicare’s hospital trust fund will run out of money by 2026. The hospital trust fund covers a variety of services. The exhaustion of its reserves would threaten benefit rationing for patients and possible hospital closures. The latter scenario is particularly concerning given the fact that many areas of the country are experiencing a shortage of hospital beds and services.
“Groups like ours have warned for years that Medicare is going broke, but Congress has refused to listen,” said Dean Clancy, Americans for Prosperity Senior Health Policy Fellow. “To make matters even worse, President Biden and Sen. Sanders’ so-called “infrastructure” bill would accelerate Medicare’s demise by turning it into an even costlier entitlement. This latest report is a loud wake-up call for Congress to reject calls to expand Medicare, save the program from bankruptcy, and do so without punishing Americans through higher taxes.”