Over the past twenty years, Medicare’s system of price controls and endless regulations have made it difficult to modernize and strengthen the health program for our nation’s elderly. And without changes to the way Medicare is provided and structured, payroll taxes to keep it solvent would have to be raised by over 100 percent to cover the next generation of baby boomers as they retire. What can be done to resolve this problem in the years ahead?
Tommy Thompson, the U.S. Secretary of Health and Human Services, will address this question. He will explain the challenges facing Medicare and the steps the Bush Administration has proposed to promote high-quality care and begin to address Medicare’s long-term financial challenges so that it effectively serves the next generation of Americans.