Choosing to spend

Read the above and then below. The problem with those who accept the rhetoric of Senator Sanders and friends is they are narrow focused and naive. For many seniors, in fact I’ll say the majority, the real issue is how one chooses to spend their money.

Clearly a few hours at a casino is more pleasurable than a root canal, but there is no difference in the value of money spent. It’s a matter of priorities and which we feel more responsible in paying.

Seniors are one of the fastest-growing groups of gamblers. One study found that gambling was the most frequently identified social activity among adults over 65, with casinos and bingo surpassing movies, lunch, shopping and golf as preferred social activities.

https://www.northstarpg.org/research/gambling-is-increasingly-popular-among-older-adults/

3 comments

  1. Based on an editorial opinion from today’s Wall Street Journal:
    – Medicare Part A Hospital Trust fund is exhausted in 2025 – 2026, and it faces a $578 Billion funding gap over the next decade (2022-2031), plus for Medicare Part D and B, where 75+% is paid from general revenue taxes where we are running $1+ Trillion deficits for as far as the eye can see, but nary a penny in the bill for shoring up the HI Trust fund or funding the promises of Medicare Part B and Part D.
    – The cost of the expansion in dental, vision and hearing is estimated at $81B/year when fully hased in, or $800 Billion over the first decade after implementation, and, of course ever increasing thereafter.
    – However, the bill delays implementation until 2028 so that the D’s can claim the bill and this new entitlement is “fully paid for” or that it has “no cost”. On a four Pinocchio scale, this gets a 7!
    – Who will pay?
    ……….Well, there’s the general revenue taxes assigned to current workers, those too young to vote and future generations. Is that what Roosevelt and Johnson had in mind when they created Social Security and Medicare, respectively? If so, Americans have obviously grown sated on the crack pipe of entitlements, paid for with burdens on generations to come. If not, well, why would we not only continue this insanity and stupidity but expand on it!?
    ……… But, the new legislation also includes the price controls (a la Resource Based Relative Value Schedules or Diagnostic Related Groups, etc.) As a result, many of these Medicare services will receive reimbursements at a dollar amount less than the cost to provide them. Squeeze the balloon in one area and it pops out elsewhere. So, all you who are not on Medicare, expect the dentist, optomotrist, and audiologist to raise your prices, steeply!

    Jimmy Carter campaigned against Ronald Reagan in 1980 saying that Reagan opposed Medicare back in the early 60’s. Here is part of Reagan’s statement that Carter criticized: … (after Medicare) “behind it will come other government programs that will invade every area of freedom as we have known it in this country until one day … we will wake to find that we have socialism.” … “We are going to spend our sunset years telling our children and our children’s children, what it once was like in America when men were free.”

    Welcome to Bernie Sander’s world. Keep in mind that Bernie will be long gone from Congress once the “butcher’s bill” is presented. Bernie, why wait …

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  2. I find it fascinating that Sen. Sanders thinks that nearly two thirds of seniors “have no idea” how they will afford to go to a dentist, apparently because they lack dental insurance. I think of insurance, whether it be dental, medical, automobile, life, disability or homeowner’s as something to help with the financial costs of a major problem or catastrophe, not the costs of unpredictable but expected problems and routine care.

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    1. Unfortunately, politicans, mostly democrats, for decades have been pushing that health insurance should cover everything and has evolved to being free without co-pays. That has now spilled over into other parts of health care.
      When I was young, the fight was making car insurance affordable. I wonder how long before the politicians circle back to that? How about free flood, fire, or homeowner insurance? Whatever they can buy votes with or get lobbyists money on an issue is good for themselves.

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