Ryan Previews Entitlement Reform in ’18; Efforts Could Save Hundreds of Billions Ryan Previews Entitlement Reform in ’18; Efforts Could Save Hundreds of Billions – NTK Network

Ryan Previews Entitlement Reform in ’18; Efforts Could Save Hundreds of Billions

The speaker of the House suggested on Thursday that entitlement reform, specifically Medicare and Medicaid, could be on the GOP agenda in 2018.

By NTK Staff | 12.07.2017 @4:00pm
Ryan Previews Entitlement Reform in ’18; Efforts Could Save Hundreds of Billions

Speaker Paul Ryan (R-WI) previewed Republican efforts to reform entitlement programs like Medicare and Medicaid on Thursday.

Since Medicare, Medicaid, and Social Security are the largest spending items in the federal budget, along with defense, meaningful reform to the three programs could save taxpayers hundreds of billions of dollars over the next decade.

CNN‘s Sophie Tatum reported:

Speaking to Ross Kaminsky on his talk radio show, the Wisconsin Republican said Wednesday that the House would be working to reform health care entitlements in 2018, calling them “the big drivers of our debt,” during a discussion about the Republican tax bill.

…Ryan specifically mentioned Medicare as being the “biggest entitlement that’s got to have reform.”

“Really, what it is is we need to convert our health care system to a patient-centered system, so that people have more choices, we have more competition,” Ryan later said.

CNN also reported that Sen. Bernie Sanders (I-VT), a democratic socialist who wants to spend tens of trillions of dollars on programs in the next decade, attacked the effort:

But meaningful entitlement reform could make a big difference in the national debt and annual deficits. The Committee for a Responsible Federal Budget (CRFB), a leading watchdog, laid out a number of reforms in May 2017 that could save taxpayers between $235 billion and $670 billion over a decade, without cutting Medicare benefits.

CRFB also has a “Social Security Reformer” that shows how the government could make Social Security solvent for 75 years with a few strong reforms.

Just a few combined reforms, such as raising the retirement age to 69, slowing benefit growth for high earners, and means-testing benefits for high earners and their spouses, could close most of the expected shortfall in Social Security.

If Ryan and company are successful, their efforts could put America back on a long-term path to fiscal solvency.

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