| 00:00:02 |
Musser, James - Director
FISCAL FISCAL STATE AND FUTURE OUTLOOK OF SOCIAL SECURITY AND MEDICARE. >> AS I'M LOOKING AROUND, I SEE SOME OLD FRIENDS AND WELCOME BACK TO YOU AND...
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| 00:03:18 |
Fichtner, Jason - Senior Fellow
FICKNER, I'M A SENIOR RESEARCH FELLOW. I WAS RECENTLY WITH THE SOCIAL SECURITY ADMINISTRATION WHERE I HAD THE PRIVILEGE OF SERVING IN A VARIETY OF POSITIONS....
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| 00:08:43 |
Blahous, Charles - Trustee
THANK YOU VERY MUCH FOR THAT WARM AND GENEROUS INTRODUCTION. I WANT TO BEGIN BY THANKING THE MERCATUS CENTER FOR PUTTING THIS TOGETHER. I WANT TO THANK...
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| 00:29:24 |
Reischauer, Robert D. - President
UP. >> I WANT TO START BY THANKING JIM AND JASON AND THE FOLKS AT THE MERCAKUS CENTER FOR GIVING US THIS OPPORTUNITY TO HAVE A DIALOGUE WITH ALL OF YOU....
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| 00:43:06 |
Fichtner, Jason - Senior Fellow
THE ISSUES NOW WITH AT LEAST SOCIAL SECURITY IS IF WE WERE TO ACT TODAY, WE COULD BASICALLY REFORM THE PROGRAM AND HOLD CURRENT BENEFICIARIES HARMLESS,...
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| 00:44:07 |
Blahous, Charles - Trustee
I WANT TO BE VERY CAREFUL OBVIOUSLY, NOT SPEAKING AS A TRUSTEE AND CERTAINLY NOT SPEAKING FOR DR. REICHOUR FOR MY FELLOW TRUSTEES, BUT I THINK THERE...
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| 00:47:34 |
Reischauer, Robert D. - President
AND THEY WERE IN MY PRINTOUT, WHICH I PRINTED OUT JUST BEFORE I DID THIS, AND THEY'RE NOT HERE. SO SOMEHOW I THINK RICK FOSTER, IF YOU SAW THAT SLIDE...
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| 00:56:20 |
Q&A, -
THAT RICK FOSTER WHO STOLE YOUR SLIDES, HAS ACTUALLY BEEN PRETTY VOCAL ABOUT SAYING HE DOES NOT THINK THAT THE CONCEIVINGS IN THE ACA HAVE MATERIALIZED....
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| 00:59:08 |
Blahous, Charles - Trustee
I WOULD JUST SAY TWO THINGS. ONE IS, WE AS TRUSTEES ARE SOMEWHAT CONSTRAINED. OBVIOUSLY ONE CAN SPECULATE AS TO WHETHER OR NOT WE THINK THAT THE COST...
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| 01:00:50 |
Reischauer, Robert D. - President
SUCCESSFUL. YOU KNOW, I THINK THERE'S AN AWFUL LOT GOING ON, SOME OF IT VERY INNOVATIVE. THERE'S ALSO A LOT OF PRESSURE FROM INDIVIDUALS, FROM EMPLOYEES,...
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| 01:01:46 |
Fichtner, Jason - Senior Fellow
AGREE THAT THE FINANCIAL CHALLENGES BOTH PROGRAMS FACE ARE REAL AND NEED MORE ATTENTION THAN KICKING THE CAN DOWN THE ROAD. >> WE KNOW THEY'RE REAL...
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| 01:02:03 |
Blahous, Charles - Trustee
VARIABLES ARE PRETTY EASY TO NAIL DOWN. QUALITATIVELY THINGS AREN'T GOING TO LOOK THAT MUCH DIFFERENT FROM THE WAY WE'RE PROJECTING IT. ON THE MEDICARE...
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| 01:02:28 |
Fichtner, Jason - Senior Fellow
CAMERA. IF YOU HAVE QUESTIONS, PLEASE COME UP FRONT AND STATE YOUR NAME, YOUR AFFILIATION AND PLEASE MAKE SURE YOU ASK A QUESTION. DO YOU WANT TO STAND...
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| 01:03:50 |
Blahous, Charles - Trustee
709 LETTER, THAT IF WE SHOW GETTING DOWN TO A TRUST FUND RATIO OF 20, ONLY ENOUGH ASSETS IN THE TRUST FUND SUFFICIENT TO FUND BENEFITS ONE-FIFTH OF...
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| 01:05:04 |
Reischauer, Robert D. - President
CONGRESS PASSED A PROVISION THAT SAID, IF MEDICARE DEPENDED BY MORE THAN 45% ON GENERAL REVENUES, THE ACTUARY SHOULD TAKE NOTICE. IF THIS OCCURRED...
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| 01:07:21 |
Blahous, Charles - Trustee
IT, AND B, ARE THERE REVENUES PROVIDED TO THE TRUST FUND TO REIMBURSE FOR ANY REVENUES LOST. WE CURRENTLY HAVE A REDUCTION OF THE PAYROLL TAX OF TWO POINTS,...
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| 01:09:12 |
Reischauer, Robert D. - President
ALL. AND THIS WAS BASICALLY A WAY OF GETTING A TAX CUT OUT TO WORKING AMERICANS IN PROPORTION TO THE AMOUNT THAT THEY EARN UNDERNEATH THE TAXABLE MAXIMUM...
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| 01:10:08 |
Blahous, Charles - Trustee
BAD. LET ME SAY THAT CERTAINLY TO THE EXTENT THAT THE TRUST FUND EMBODIES AN EXPLICIT TIE BETWEEN WORKER AND PAYROLL TAX CONTRIBUTIONS AND BENEFIT CLAIMS,...
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| 01:11:38 |
Reischauer, Robert D. - President
SCHEDULE. AND THERE'S A WHOLE LOT OF OTHER THINGS BESIDES PHYSICIANS GETTING PAID UNDER THE PHYSICIAN FEE SCHEDULE. THERE ARE OTHER PROFESSIONALS AND...
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| 01:13:11 |
Fichtner, Jason - Senior Fellow
SGR REDUCTIONS, THE CHIEF ACTUARY OF RICK FOSTER SAID THERE WOULD BE A PROBLEM WITH ACCESS. THAT THE COST WOULD EXCEED THE REIMBURSEMENT RATES. SO...
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| 01:14:16 |
Reischauer, Robert D. - President
WITH RESPECT TO THE FIVE-YEAR ADVANCE IN THE POINT AT WHICH THE TRUST FUND BECOMES INSOLVENT, IN A SENSE THESE -- THE EXPLANATION IS LARGELY TECHNICAL....
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| 01:18:40 |
Fichtner, Jason - Senior Fellow
PROBABLY SIT IN A ROOM FOR AN AFTERNOON, KNOWING THE MATHEMATICS BEHIND IT AND FIGURE OUT TO GET SOLVENCY. WITH MEDICARE AND MEDICAID, WE'RE TRYING...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.