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Cost Savings As We Age: Common Sense

Author: Michael W. Hodin, Adjunct Senior Fellow
February 8, 2012
The Fiscal Times

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Coming out of the primary in Florida – home to so many seniors and ground zero for Medicare – Mitt Romney, not surprisingly, says he wants to be sure "that Medicare is fiscally solvent" and claimed, "I put a proposal out, which now Wyden and Ryan have taken on legislatively."

Good ideas do tend to attract lots of fathers.

But this one is further supported by the S&P report, "Mounting Medical Care Spending Could Be Harmful to the G-20's Credit Health," released earlier this week. In sum, the report said: "Population aging will lead to profound changes in economic growth prospects for countries around the world … as governments work to build budgets to face ever greater age-related spending needs. Governments' main policy actions so far have consisted of decreasing pension outlays. We believe that getting a firmer grip on rising health care spending is at least equally important."

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