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Public Statements

Medicare Solvency

Floor Speech

Location: Washington, DC

In the CMS report the minority references, the ``M'' stands for Medicare. CMS is in the business of counting and accounting for the Medicare program. Here's what they said:

Under the law before the health care bill passed, Medicare was going to run out of money in 2017. We have extended the life now to 2029 and can build on that to save Medicare.

The report also says that they made estimates, subject to interpretation, about health care costs in the rest of the system, but here's what they assumed:

They assumed that medical records sharing and technology won't save any money. Most people think it will. They assumed that wellness programs that stop people from smoking and start exercising won't save any money. Most people think it will. They assumed that insurance companies having to compete with each other will not save any money. Most people think that it will.

The fact of the matter is the health care law extends the life of Medicare by 12 years, something the erstwhile majority never did when it was in the majority.

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