Unfunded obama programs
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Experts can debate whether future Congresses will suspend Obama's Medicare cuts and whether the long-range cost of extending coverage to more than 30 million uninsured will outpace the revenue to pay for it. As the reactions of the GOP candidates at the debate demonstrated, no one is seriously considering repeal of the prescription program. Thanks to taxpayers, about 90 percent of older people now have affordable access to medications that help keep them out of the hospital.
Roughly two-thirds of those are enrolled in Medicare's benefit; many others are in former employers' prescription plans. Ironically, repealing Obama's overhaul would take away the most important improvement to the program since it was created. Obama's law gradually eliminates the dreaded coverage gap known as the doughnut hole.
Millions of people will each save thousands of dollars as a result. Republicans like to point out that the cost of the prescription program is well below original estimates. They attribute that to competition among the private insurers providing the benefit.
While competition is part of the story, experts say it's not the only reason. The shift to cheaper generic drugs among people of all ages has been a powerful contributor. That may not last forever. The trustees who oversee Medicare's finances warn in their latest report that spending on drugs will rise more rapidly in the future. Said Walker: "Basically what's happening is we're mortgaging the future of our children and grandchildren, and borrowing the money from China.
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