Medicare Part D Liability Dwarfs Social Security

The additional liability incurred by adding prescription drugs to Medicare dwarfs the total liabilities for Social Security. This makes it clear that Social Security reform is not where the big action is going to be over the next 40 years. Medicare is going to be the major battleground. Much like the baby boomers remade the ice cream landscape (from 3 flavors to thousands), I expect the health care landscape to go through similar transformations in trying to grapple with these numbers. There is going to be some major soul searching ahead as to how much health care people have a “right” to.

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