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Essay / Medicare should be paid for by younger generations
Medicare has provided health insurance to people since the signing of the Social Security Act in 1965. Signed by President Lyndon B. Johnson as an amendment to the legislature of Social Security, Medicare has become one of the largest health programs intended to help people aged 65 and older and people with disabilities 65 and younger. The program has significantly helped these individuals meet their health needs. Today, our economy is under financial stress, with an accumulation of debt of approximately $54 trillion, of which $80 trillion is Medicare's liability alone. This debt affects the financial financing of Medicare beneficiaries, which is bad for many people who have income in poverty. Today, the only way to meet these cuts in Medicare 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 in place for these people. Unlike Social Security, part of Medicare's costs come from federal revenues. That means it comes from our taxes. With a large deficit, federal revenue must spend as little as possible to maintain our debt. It also means that we, the taxpayers, have to pay more to meet debt requirements. “The way they work is that as costs increase, they only increase the burden on taxpayers for future generations.” (Angle, 2011). The debt crisis is more about Medicare than it is about most federal revenues, says Paul Ryan, chairman of the House Budget Committee: “The time for economic reckoning is fast approaching. Because tens of billions of dollars of unfunded liabilities are before us,” he also mentions. "Medicar...... middle of paper ...... niors, Fox News - Politics, Cox, He, Mclean, Russell, Tse, Waananen. (2011). Mapping the US Debt Crisis, New York Times - PoliticsHogan Christopher, Lunney June, Gabel Jon and Lynn Joanne, Costs of Care for Medicare Beneficiaries in the Last 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) Health Affairs, 8-10..),