July 31st Edition

Yesterday the Congressional Budget Office (CBO) put out "Competition and the Cost of Medicare’s Prescription Drug Program.” The prescription drug program, or Part D, has been a notable success — indeed, the best-working entitlement program. Nevertheless, opponents of the private-sector driven design, such as those who favored the administration’s efforts to gut competition and choice earlier this year are likely to seize on the report as evidence that competition is not important or working in Part D.

July 29th Edition

The Trustees of the Social Security and Medicare programs released their annual reports yesterday. Read the coverage and claims contained therein carefully, with an eye for two key moments of spin: (1) the fiscal news is good and the programs are fine, and (2) Obamacare has improved the outlook for Medicare. Instead, remember this: (3) both programs are fiscal toast and need immediate reforms to continue to provide future seniors with an appropriate safety net.

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