CBO: The Medicare 'Status Quo' is a Fiscal Fantasy

Washington has not been honest with the American people about Medicare. Today, CBO Director Doug Elmendorf testified at a House Budget Committee hearing that the status quo of Medicare is unsustainable; that continuing down our current fiscal path intensifies the risk of a major debt crisis; and that such a crisis would almost certainly mean steep and immediate cuts to current beneficiaries of government programs. "The disruption to the federal government's policies, and to the economy and society, can be immense," Elmendorf said.