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Medicare Meltdown: How Wall Street and Washington are Ruining Medicare and How To Fix It
Medicare looms large in the life of nearly every American. If you are a boomer, you are counting on it. If you are a member of Gen-X or Gen-Y, you contribute to Medicare from your paycheck. Both Democrats and Republicans agree that Medicare is not financially sustainable.
While Medicare is often portrayed as a program to help older Americans, Medicare is also big business.
When Medicare began, there were no health care companies on the Fortune 100 list. Today, there are 15 companies. Hospitals, doctors, drug companies, device, manufacturers, and now private equity firms and venture capitalists depend on the program for the $600 billion it spends annually.
While some politicians say that seniors need more "skin" in the game to ensure Medicare remains financially viable, seniors' entitlement to Medicare is not what's driving the program toward the fiscal cliff. Rather, the health care industry's sense of entitlement to Medicare's money is the problem.
Medicare Meltdown calls for tightening the spigot on the wasteful spending that flows to businesses that make money from Medicare. It won't be easy to tighten the reins on an industry that is programmed to take more for itself. This is the epic battle that is being waged for Medicare's future, and with it the health and well-being of seniors and every American who is counting on it.