CBO Report Shows, Without Reform, the Future of Medicare Ain’t Pretty
The Congressional Budget Office (CBO) recently released its annual Long-Term Budget Outlook, which highlights the effects of existing policy on the federal budget. The verdict: The current trajectory is “unsustainable.”
Growing federal health care spending is a major driver of future deficits. As CBO explains, “Spending for health care in the United States has been growing faster than the economy for many years, posing a challenge not only for the federal government’s two major health insurance programs, Medicare and Medicaid, but also for state and local governments and the private sector.” The report shows that the outlook is grimmer than ever, despite the vaunted “deficit reduction” claims of those in Congress who voted for Obamacare.