Can Cutting Off Wealthy Seniors Save Medicare? - J.D. Foster September 29, 2009

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Complete video at: http://fora.tv/2009/07/23/A_Firm_Target_for_Medicare_Sustainability

J.D. Foster presents a proposal to cut the Medicare funding gap by stepping down premiums for wealthy seniors, and phasing it out completely for those making more than $660,000 annually. If this proposal were to take effect, Foster predicts "you knock off 44 trillion dollars from that almost 68 trillion dollar shortfall."

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Presidents, Members of Congress, and policy analysts across the political spectrum agree Medicare, like Social Security and Medicaid, is massively unsustainable in its current form. The funding shortfalls under current law will, over time, overwhelm federal finances.

Moving past general agreement over the problem toward sensible solutions requires two important steps. The first step is agreement on the quantification of the problem and the magnitude of the solution. Washington cannot make the necessary hard choices if it lacks a firm, agreed upon target.

The second step is a workable, politically viable approach that can approach, if not reach the target. This panel presents an approach to determining a target and to hitting the target.