"There are two Affordable Care Acts. There's the legislation passed by Congress in 2009, and then there's the mythical Affordable Care Act – the perfidious 'government takeover' decried and demagogued by so many conservatives (and quite a few liberals). The former is quite popular, the latter gets decidedly mixed reviews."
Obamacare and Medicare Cash Flow
"Despite denials from the Obama administration and Democrats in Congress, the [PPACA] legislation does cut Medicare—and it should. Medicare is facing unfunded liabilities of $50 to $100 trillion depending on the accounting measure used, making future benefit cuts both inevitable and desirable. ... Of course it would have been better if the savings from any cuts had been used to reduce the program’s future obligations rather than to fund a brand new entitlement program. And, clearly, not all Medicare cuts are created equal. ... Still, that should not obscure the necessity for dealing with Medicare’s looming financial crisis (see Figure 4).
The legislation anticipates a net reduction in Medicare spending of $416.5 billion over 10 years. ... Total cuts would actually amount to slightly more than $459 billion, but since the bill would also increase spending under the Medicare Part D prescription drug program by $42.6 billion, the actual savings would be somewhat less."
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