July 24, 2008 Rabbi Berel Wein: On the road again --- and again and again Richard Z. Chesnoff: Mideast Refugees --- Failure vs. Success JWisdom:: Word power is about more than vocabulary by Rabbi Sroy Levitansky July 23, 2008 Jonathan Tobin: The Mufti of Jerusalem's Nazi ideology lives on among contemporary Islamists The Kosher Gourmet by Joe Gray: Smoked paprika turkey meatballs simmered in red wine and tomato sauce JWisdom:: 'Routine' doesn't need to mean ‘rote’ By Rabbi David Aaron July 22, 2008 Yossi Klein Halevi: Dear Barack Obama Elliot B. 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Jewish World Review May 19, 2006 / 21 Iyar, 5766 Medicare's financial problems deepen, Trustees say — Fund could bedepleted by 2018 By Drs. Michael A. Glueck & Robert J. Cihak http://www.JewishWorldReview.com | According to the annual report released May 1, the Medicare trust fund will be depleted by 2018, two years sooner than predicted a year ago and 12 years sooner than anticipated when President Bush took office. So warns a "News of the Day ... In Perspective" release on May 6, 2006 from the Association of American Physicians and Surgeons, Inc. The Medicare and Social Security programs "form the basis of a looming fiscal crisis for our nation as the baby-boom generation moves into retirement," said Treasury Secretary John W. Snow, one of the trustees. Senators Charles Grassley (R-IA) and Max Baucus (D-MT) called for the resignation of public trustees Tom Saving and John Palmer, reappointed by President Bush during Easter recess to avoid the need for Senate confirmation (Wash Post 5/2/06). Saving and Palmer are credited with changing the Trustees report to include annual updates on the value of the unfunded liabilities. This year, the combined Social Security/Medicare unfunded obligations reached $36.7 trillion on a 75-year horizon and $83.9 trillion on an infinite horizon. These figures were not included in handouts provided during a briefing on the report, according to John Goodman of the National Center for Policy Analysis. The Trustees also reported that in 2006, 12.3% of federal income tax revenues will be transferred to support Medicare; Social Security still has an excess amounting to 5.3% of income tax revenue. If present trends were to continue, Medicare alone would absorb 74.8% of income tax revenue by 2080, and Social Security 17.0%. As part of the Medicare Modernization Act, the Trustees are required to compare overall projected Medicare expenditures with the program's "dedicated revenues." If the difference is projected to exceed 45% of the revenues within the first seven years of the projection period, it triggers a determination of "excess general revenue Medicare funding." A second such determination in 2007 would trigger a "Medicare funding warning." This year is the first to trigger the determination. If it occurs again next year, Congress will be required to consider action on a expedited basis, but won't actually have to do anything. The provision was intended to cap the amount of general revenues that could be used to support Medicare. According to a New York Times May 4 editorial, such a cap is "a perverse way to deal with Medicare's very real financial problems," because it "removes the most progressive source of funding from further consideration." President Bush proposes to create a federal commission on the plight of entitlement programs and to slow Medicare spending by $36 billion over the next five years. Comments Jane Orient, M.D. Executive Director of AAPS, "If the hospital "trust fund" for our single-payer Medicare program for the elderly is going to be insolvent by 2018, and is slated to devour most of the federal treasury soon thereafter, how can we possibly fund universal single-payer health insurance for everybody? We've reached the conclusion that the United States is now like an individual or business that has gone so deeply into debt, it knows the money will never be repaid. So why bother being responsible anymore? Just let the final collapse come after our time, and let the decline be gradual. Unfortunately, the decline won't be gradual, and when it comes will be like falling off a cliff. And our indebtedness for medical care is just giving the rest of the world more weapons to use against us. Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here. Michael Arnold Glueck, M.D., is a multiple award winning writer who comments on medical-legal issues. Robert J. Cihak, M.D., is a Discovery Institute Senior Fellow and a past president of the Association of American Physicians and Surgeons. Both JWR contributors are Harvard trained diagnostic radiologists. Comment by clicking here. Archives © 2006,

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