Medicare is not Going Anywhere

Both Republicans and Democrats may have qualms with Medicare, but no one is actually going to step forward and change it anytime soon The Economist points to how New York democrat Kathy Hochul reached her seat in the House of Representatives with her platform to protect Medicare from any reform.

 Even though both parties probably have a feasible plan to replace Medicare, it would not help them get elected because any reform proposal would cost the elderly, who are almost 30% of the voting population. This percentage is exaggerated further considering that retirees are more likely to show up at the polls than young people are. Also, the elderly voters have a more unified interest than younger voters whose polarized votes might cancel each other out in some instances.

 See Welcome to The Gerontocracy, The Economist, May 26, 2011.

 Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.