By Arnold Kling
As promised, I offer my rebuttal to Jacob Hacker and others who see Medicare expansion as the way to “fix” the health care system.
According to the 2006 report of the Medicare Trustees, the unfunded liability in Medicare over the next 75 years is $11 trillion. This is the gap between the promises that the system makes to future beneficiaries and the taxes that will be collected under current law to pay for those benefits.
…Proposals to increase government’s role in funding health care amount to adding passengers to the Titanic. Until someone figures out how government is going to pay for its existing promises in health care, it is not realistic to make new promises.