Social security and Medicare :Dealing with the ponzi scheme

Discussions like these are what we need

Ron Wyden Democratic senator and Paul Ryan in a bipartisan bill

Listen to both ryan and Wyden explaining their alliance

The plan would only go into effect for people aged 55 or younger today. These future seniors would buy insurance on a “Medicare Exchange,” which would require plans to guarantee coverage regardless of pre-existing conditions, and require plans to charge similar premiums to those who are healthier or sicker.In the event that competitive bidding failed to bring down spending growth, Wyden-Ryan would cap the growth of Medicare spending to nominal GDP plus one percent (a calculation that includes inflation). How it would enforce this cap is largely unclear. Every Congress is sovereign; one Congress can’t bind future Congresses to due its bidding. Hence, if competitive bidding fails to bring costs down (though it should), the Wyden-Ryan approach of requiring Congress to find ways to cut spending is, effectively, toothless.

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