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Will Bail Outs and Stimulus Packages Impact Future Health Benefits and Coverage?

 

CLICK HERE TO WATCH THE PJTV HEARING ON ECONOMIC IMPACT OF THE STIMULUS.

CLICK HERE TO WATCH THE PJTV HEARING ON THE STIMULUS AND ITS IMPACT ON HEALTH CARE.

Background

In discussions of the impact of the stimulus bill and related bailout measures before Congress, for the most part, the public hears inexact expressions such as "mortgaging our future" and "putting a financial burden on our grandchildren."  But are there more direct impacts the public should be considering from the astronomical levels of spending and borrowing currently being contemplated?

A Government Accounting Office 2007 Financial Report of the U.S. Government indicated that in about 2030 to 2040 our federal government revenues would not be sufficient to pay already enacted nondiscretionary items like Social Security, net interest payments, Medicaid and Medicare. The growing costs of entitlements  are bringing  that date closer. Interest payments on past and future borrowing for bailout and stimulus packages could bring the date closer still.

Although there are some measures and plans to reign in health care and entitlement costs, will these measures compensate for the higher interest costs that the US will pay? Will we reach a point when medical coverage and benefits will need to be severely cut because of  financial decisions we are making today? If so, how can we prudently balance today's spending and borrowing with possible impacts on future health coverage and Social Security benefits?

Participants include:
Moderator: Jennifer Rubin, Washington Editor, Pajamas Media
Joe Wurzelbacher (a.k.a. Joe the Plumber), PJTV  - Opening Comments, Questions from Public


Financial Panel
   Andrew Roth, Vice President for Government Affairs, Club for Growth
   Brian Riedl, Senior Policy Analyst, Heritage Foundation
   Dan Mitchell, Senior Fellow, CATO Institute
Health Care Panel
   Jim Capretta , fellow with the Ethics and Public Policy Center (EPPC)  
   Andy Chasin, Health Policy Counsel, Senate Republican Policy Committee
   Diana Furchtgott-Roth, columnist, RealClearMarkets.com