Health care reform

Editor:

Sen. Harry Reid, D-Nev., leader of the Senate, has proposed that the Medicare taxing system be used to generate taxes ($400 billion) to help support the Senate version for Health Care Reform.

This proposal is fiscally ludicrous as the Medicare program is currently insolvent and now requires an infusion of tax dollars to keep the Medicare program solvent, as quoted in the following Board of Trustees summary report provided to Congress:

“The annual general funding contributions to the total Medicare expenditures, is projected to exceed 45 percent within the first seven years of the 75-year period as is triggered by the report’s finding.

“This warning requires the President to respond by submitting proposed legislation within 15 days of the next budget submission (early February 2008) to address the problem, and for Congress to consider the proposal on an expedited basis.”

The Social Security program is also facing insolvency and the Board of Trustees has rendered their following findings relating to this program:

“Social Security could be brought into actuarial balance over the next 75 years in various ways, including an immediate increase of 16 percent in payroll taxes, or an immediate reduction in benefits of 13 percent, or combination of the two which would ensure the system is solvent on a sustainable basis.

“To the extent changes are delayed or phased in gradually, larger adjustments in scheduled benefit and revenues would be required that would spread over fewer generations.”

President Obama and those in Congress including Senator Reid have failed in their responsibilities to respond to the Board of Trustees findings relating to the insolvency issues that now faces both the Medicare and Social Security programs.

In this regard, they would better serve this nation, taxpayers, and senior citizens by promoting and enacting into law legislation to resolve the insolvency issues facing the Medicare and Social Security programs.

Yet they continue promoting Health Care Reform legislation that from a fiscal standpoint our nation and taxpayers simply cannot afford at this point in time.

Larry Erickson, Green Valley