Guest Douglas Holtz-Eakin, frmr CBO Dir: Explains Upcoming Cuts to Medicare and who is making them

Join me this week as my guest Douglas Holtz-Eakin, President of the American Action Forum, former Director of the Congressional Budget Office, and Chairman of the President's Council of Economic Advisors explains the upcoming cuts to Medicare and who is making them for 2024. Listen and learn as we separate Fact from Fiction, Starting with Social Security and including Medicare.. For a long time, the payroll taxes going in exceeded the benefits going out, so there was extra accumulation in the fund. Now, the reverse is true and the trust fund is going down. And in ten years, the CBO estimates it will hit zero. At that point, the law says that you can only pay benefits out of the trust fund, so there won't be enough money in the trust fund each year to pay full benefits. Then the law says that seniors are entitled to medical care, so they have to be cared for. But you're not allowed to reimburse doctors and hospitals unless there's money in the trust fund. There would be a train wreck like you have not seen. Learn more: https://www.americanactionforum.org/ View the video version on our YouTube Channel: https://youtu.be/e5yfAxSy6gw