Bush Treasury Secretary: Benefits (like Medicare) "pose risk to US growth"

[Karmadillo]

If you support Medicare, the terrorists win.

http://news.bbc.co.uk/2/hi/business/5236982.stm

Benefits 'pose risk to US growth'
Soaring benefit costs pose a key threat to the US economy, Treasury Secretary Henry Paulson has warned.

Huge costs related to schemes like Medicare risked limiting America's economic "flexibility" and its competitive edge, Mr Paulson said.

In his first public comments since taking the post he also signalled he would stick to the strong dollar policy of his predecessor John Snow.

He also echoed Mr Snow's criticism of China's monetary policy.

The US has long attacked China for failing to loosen its ties on the yuan, claiming that it fixes its exchange rate at an unfair level - a move that allows the country to supply low cost exports.

more...

[joemurphy]

1. Hmmm...guess we should cut benefits. We can't cut profits

of pharmaceutical companies or control the growth of medical expenses. And consider Teri Schiavo, you never know if someone's really alive. Keeping brain dead people alive is costly.

We'll all just have to do without, I guess. Unless you have the money to pay for it, of course.

[stevebreeze]

2. the cost of Medicare is exploding for only 1 reason

the US has the most inefficient and expensive health care system on the planet. Medicare troubles would quickly evaporate if we had universal single payer as does every other industrialized country on earth. ALL other major countries have far lower health care costs and better health care outcomes.

[rurallib]

3. This guy's been on the job what? a week or so?

guess we know why he was hired.