The Washington Post reports that a doctor in Texas bilked Medicare and Medicaid out of $375 million. That’s a lot of money, but improper payments represent somewhere between 10 and 20 percent of total spending on these two health programs. Thus, more than $100 billion of taxpayer funds could be going down the drain each year.
Medicare and Medicaid are rife with fraud. We’re talking 10 percent or more of total spending, which is two orders of magnitude more than what credit card companies tolerate.
Billionaire investor Warren Buffett’s latest call for the federal government to soak the rich was prominently – and rather uncritically – featured on the major networks’ evening news last night. President Obama promptly jumped on Buffett’s op-ed in the New York Times to bolster his argument that Washington needs to generate more revenue.
David Boaz’s post on bizarre and utterly preposterous claims that the federal government’s “social safety net” has been shrinking brought to my mind James Madison’s position that “Charity is no part of the legislative duty of the government.”
Yesterday, Education Secretary Arne Duncan and Health and Human Services Secretary Kathleen Sebelius announced how $700 million in new Race to the Top money will be employed: $200 million to get close-loser states in the last RTTT to once again jump through hoops and grovel before their federal overloards, and $500 million for a new “early-learning” obedience contest.
Harold Camping is “flabbergasted” that the world did not end on May 21st as he had predicted. I think it’s because he didn’t account for the devastation that will be wrought by Republican budget cuts for fiscal 2012, which doesn’t begin until October 1st. Therefore, Camping’s new predication that the world will end on October 21st is much more plausible.
Now that Rep. Ron Paul is again a presidential candidate, his constitutional views will come under increasing scrutiny, as happened yesterday when he was interviewed by Chris Wallace on Fox News Sunday. Not surprisingly, critics immediately leapt on Paul’s “crankish view” that Social Security, Medicare, and other such programs are unconstitutional. Even Wallace seemed taken aback, citing the document’s General Welfare Clause:
House Budget Committee chairman Paul Ryan (R-WI) is proposing reforms to Medicare and Medicaid as part of his budget proposal for fiscal 2012. Readers who are interested in getting a better understanding of these pillars of the federal welfare state should check out two Cato essays on our Downsizing Government website.
A new Cato Policy Analysis from Michael Tanner examines so-called “entitlement programs” – chiefly Social Security, Medicare, and Medicaid – and how they will push the government’s finances to the brink if they’re not reined in. As he notes in the introduction, if politicians continue to duck the issue, they “will condemn our children and our grandchildren to a world of mounting debt and higher taxes.”