$720 billion for that drug benefit through 2015? The cost was already too high at $400 billion.
It’s clear that whereas the Bush administration has been trying to scare the public about Social Security insolvency 75 years out — they have been downplaying, obfuscating, and misleading about this Medicare cost — over which they have had control.
The problems in our long-term fiscal portfolio are out-of-control Medicare costs and rising interest payments on debt. These are the two accounts that we must bring under control because they are the ones constraining other choices — not social security.
— Steve Clemons
