Public program obligations, already burdensome, will be unsustainable for future generations of Americans

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Public program obligations, already burdensome, will be unsustainable for future generations of Americans.

    • By 2013, Medicare expenditures alone are projected to grow by about 43 percent in real dollars—without a prescription drug benefit.
    • By 2050, when this year’s high school seniors turn 65,
      • the ratio of workers to pay for each Medicare beneficiary will have dropped from 4-1 to just about 2-1.
      • Medicare and Medicaid will have more than doubled their share of the national economy.
    • Medicare and Medicaid are on GAO’s 2003 high-risk list of programs substantially vulnerable to waste, fraud, abuse, and mismanagement.