Alan Greenspan , in his recent book The Age of Turbulence, makes untenable predictions about the future of Medicare. As Baby Boomers age, that age group will require more and more services. However, the number of younger people working to support the boomers will be fewer.

Greenspan contends that the cost pressures will be so severe that some kind of adjustment will be inevitable. It could be inflation or higher taxes. Or it might be lower benefits for all or a reallocation of benefits among income groups meaning lower benefits for higher-income people.

To keep the system solvent, boomers will need to compromise.

In this article, writer Bob Brady asks

If we spend a greater and greater portion of our economic resources on health care, at some point we end up crippling other parts of the economy. Will health care–and our near-religious belief that everyone ought to get everything–end up being the “belief” that causes the “collapse” of the American economy?

search for : The Age of Turbulence, the future of Medicare, Baby Boomers

Bookmark to: