how does the ryan plan for medicare and social sercurity work?

[bumper55706]

According to what I hear if your 55 years of age and older, social security and medicare stay the same. If you are younger then you will be switched to a stock market investment plan for your retirement. So if your 54 you lose your social security and medicaid benefits and make it up in less then 8 years by building up a new retirement in the stock market.What happens to the money's taken out of your paycheck which you've paid your entire working career do you lose it? I'd also be worried that another bernie maddoff would be handling my account. Also our economy is cyclical going up down in the stock market and the economy so what if you invest in a down period over your life time will you get the same or less because of the economy?

[Dave87gn]

his plan is to cut them drastically,

he's going to give seniors a medicare voucher and then tell them to go buy private insurance.

he's going to give the states a block grant for medicaid and let them pay what they can.

and privatize SS which will result in wall street making big bucks on fees.

apparantly he believes that if we cut medicare and medicaid, that will prevent old and poor people from getting sick

[hiztreebuff]

The claim that benefits will remain for those over 55 is a smokescreen at best. The called for cuts to Medicaid, will have an immediate and devastating impact on any and all seniors requiring Long Term Care.
If the idea is so good, why do they need to sell it by excluding those over 55? Where are the protections against Medicare and Medicaid fraud? You know, the kind that slapped Scott with a small fine for Medicare Fraud, but allowed him to keep the remainder making him a millionaire, and subsequently Governor of Florida.

[Jeff D]

Medicare and Social Security will go bankrupt if nothing is done. If you think Ryan's plan won't fix it then what's your plan?

[gregory_dittman]

He believes in privatizing them. Although the Democrats may claim that people would be hammered by the stock market, people will be hammered twice by Social Security. First Social Social Security benefits are going to be cut by 25% somewhere around 2024 to 2033 depending on when people retire. Because of the economy, people are retiring earlier that expected and that's one reason why it went from 2033 to 2024. Also not everyone is working. There is serious unemployment with those that are going to live to see that cut. Since money is not flowing into the system it hits the system two ways. The first way, the money that goes into the fund is instantly spent, but because of the economy less money is going, the reserve is being tapped quicker than expected. Also those unemployed people are going to have less benefits just for the simple fact they are not working and pay determines how much one gets back. Also Social Security may face another cut around 2080. If those people Ryan wants to help held TIPS (U.S. government insured bonds indexed to inflation), they would end up with more money.

Medicare will go to private insurance companies. Medicare loses about $80 billion due to fraud each year and is less efficient than private insurance companies no matter what the Democrats say.