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Obama Loots $716 Billion from Medicare
Senior Obama adviser David Axelrod attacked Romney and Ryan this week with the accusation that a repeal of Obamacare would bankrupt Medicare. David Axelrod however is misinformed, as the real threat to Medicare is President Obama, who has taken billions of dollars from Medicare to fund Obamacare.
Medicare cost saving measures could be beneficial, however such measures should be used to make the Medicare guarantee stronger for tomorrows' seniors while preserving contemporary enrollee's plans. Instead, President Obama took Medicare dollars from today's seniors to fund Obamacare.
A report issued by the Congressional Budget Office (CBO) finds that the amount of money President Obama has taken from Medicare to fund Obamacare totals $716 Billion:
|Obama's Cuts to Medicare:||Total Amount Cut by Service:|
|Hospital Services||$260 Billion|
|Medicare Advantage (MA)||$156 Billion|
|Home Health Services||$66 Billion|
|Skilled Nursing Services||$39 Billion|
|Hospice Services||$17 Billion|
|Other Services||$33 Billion|
|DSH Payments||$56 Billion|
Senger, Alyene, Heritage.org, "Obamacare Robs Medicare of $716 Billion to Fund Itself".
Worst of all, President Obama has taken $56 Billion from Disproportionate Share Hospital (DSH) Payments. DSH payments go to Hospitals that primarily serve low-income patients.
In addition to billions in Medicare pillaging to fund Obamacare, President Obama has essentially circumvented the law and future presidential vetoes by using the Independent Payment Advisory Board (IPAB) to insure all cuts to Medicare "must become law by August 15th, 2014."