If I may?
The Affordable Care Act has extended the life of Medicare until 2023.
Ryan states he will provide Medicare as we know it to all those over 55 years old.
Assuming people will retire and take Medicare at the age of 65, that means there is ten years of solvency as Medicare is today. Ten years of solvency. That is what President Obama has brought to Medicare through the Affordable Care Act.
Now, let's pause and think about this a minute.
1, 2, 3, 4, 5,...60 seconds.
Okay.
Ryan wants to let Medicare stand until it runs out of solvency. That is why he chose the age 55 and younger. There is no miracle to his calculations, he simply took out a calculator to make sure he got the numbers right and punched in 65 - 10 = 55. That is all Ryan did. He then took the monies Medicare currently takes in from year to year and divided the number of participants coming into Medicare from the age of 55 and younger. The number out of his calculator was $7000.00.
So, Ryan plans to run Medicare into insolvency and then provide a 'pay out' to the number of new participants each year for the monies taken in and divided between them.
There is one FATAL FLAW. Figure it out yet?
Let's pause and think about this a minute.
1, 2, 3, ...
...60. Got it?
I do.
You see, Ryan in all his fiscal genius calculated that Medicare will run into insolvency in ten years.
True, but, ONLY if The Affordable Care Act stays in effect during all those ten years.
Romney / Ryan states they will repeal the Affordable Care Act. Guess what?
Ryan won't have ten years after they repeal the Affordable Care Act.
What will the 'Fiscal Wonder Boys' do then?
