This is based on a survey of people in Washington state, but there is no reason to think these folks are unique. It’s really scary stuff. Please make sure you read the full story here.
A quarter of respondents (24%) or approximately 462,000 Washingtonians between 45-64, have less than $25,000 in savings.
The House of Representatives health care reform legislation gained some momentum yesterday when AARP, which represents 40 million seniors, and the American Medical Association each endorsed the measure.
This should tell you something about how effective the legislation will be in managing costs.
Both organizations have more clout among politicians than they have any actual representation of the constituents they claim to represent. The AARP sells stuff, publishes a magazine and sends people cards when they turn 55 or is it 50 now.
The AARP no more represents the senior citizens of the US than the AMA represents the majority of physicians in America. The AARP wants the donut hole for Part D of Medicare closed never mind the cost and the AMA wants no reduction in physician fees under Medicare never mind the cost.
These self serving, irresponsible positions only make the cost of “reform” that much more difficult to deal with for all Americans. One can only speculate how reforming health care became the vehicle for expanding an entitlement that was opposed by Democrats when enacted by the Bush administration. Oh right, seniors vote. Despite the fact that those most in need are young families especially lower income families, we continue to use valuable national resources disproportionally for seniors, oh right, they vote.
Despite the fact Medicare is in big time fiscal trouble with the insertion of text into two thousand pages of new legislation we make the problem worse.
Oh right …………