Source: Flickr/Ethan Prater
Editor’s Note: The following report is excerpted from Jerome Corsi’s Red Alert, the premium online newsletter published by the current No. 1 best-selling author, WND staff writer and senior managing director of the Financial Services Group at Gilford Securities.
The largest number of seniors ever to retire in America begins retiring this year, leaving little doubt that Medicare will be able to continue operating unless government-paid health-care services are rationed, Jerome Corsi’s Red Alert reports.
In 2011, the first round of baby boomers born in 1946 begins turning 65 and qualifying for Medicare, at a rate of approximately one every eight seconds.
In total, approximately 76 million baby boomers are expected to go on Medicare, with the result that Medicare will grow from 47 million today to 80 million in 2030, even factoring in death rates over that period.
Corsi wrote, “At the same time, health-care costs are expected to accelerate in coming years, with the result that Medicare is projected to cost nearly $1 trillion a year by 2020, an 80 percent increase over today.”
According to Dr. Bruce Koeppen, founding dean of Quinnipiac University School of Medicine in Hamden, Conn., the problem is also that 40 percent of physicians themselves are approaching retirement and are becoming eligible for Medicare.
According to the American Geriatrics Society, there are now 7,029 board-certified geriatricians in the United States, or about one for every 2,699 Americans aged 75 or older. But that ratio is expected to drop to one geriatrician per 5,549 seniors by 2030.
“Obamacare is also certain to produce a shortage among primary-care givers in health services as millions of Americans are instructed they have an entitlement ‘right’ to government-paid medical care,” Corsi wrote. “Even today, many physicians in private practice do not take Medicare patients because it’s not profitable to do so. This situation is certain to become even worse if Obamacare results in the 2011 cuts to Medicare that are called for in the legislation.”
For more information on rationed government health care and increasing Medicare costs, read Jerome Corsi’s Red Alert, the premium, online intelligence news source by the WND staff writer, columnist and author of the New York Times No. 1 best-seller, “The Obama Nation.“
Red Alert’s author, who received a doctorate from Harvard in political science in 1972, is the author of the No. 1 New York Times best-sellers “The Obama Nation” and (with co-author John E. O’Neill) “Unfit for Command.” He is also the author of several other books, including “America for Sale,” “The Late Great U.S.A.” and “Why Israel Can’t Wait.” In addition to serving as a senior staff reporter for WorldNetDaily, Corsi is a senior managing director in the financial-services group at Gilford Securities.
Disclosure: Gilford Securities, founded in 1979, is a full-service boutique investment firm headquartered in New York City providing an array of financial services to institutional and retail clients, from investment banking and equity research to retirement planning and wealth-management services. The views, opinions, positions or strategies expressed by the author are his alone and do not necessarily reflect Gilford Securities Incorporated’s views, opinions, positions or strategies. Gilford Securities Incorporated makes no representations as to accuracy, completeness, currentness, suitability or validity of any information expressed herein and will not be liable for any errors, omissions or delays in this information or any losses, injuries or damages arising from its display or use.