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Tuesday, August 22, 2017

Sorry, Wrong Number: CBO Torpedoes Idea Of Raising Medicare Eligibility Age

According to a new report from the Congressional Budget Office, one of the most frequently pushed plans to reduce the federal budget deficit would barely yield any actual savings at all.

This month, the CBO revised its estimate of the budgetary effects of raising the Medicare eligibility age from 65 to 67. While the CBO had estimated in 2012 that raising the eligibility age would save the federal government $113 billion over 10 years, it now estimates that the reform would save only $19 billion over the next eight years. That difference of almost $9 billion per year is, of course, massive.…

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