As I read yet another letter aimed at scaring seniors, I realize just how gullible some of us are. If all you know about Medicare is from TV spots and candidate claims, you will be terribly misinformed by both sides.
A Romney campaign ad wrongly claims that "money you paid" for Medicare is being used to pay for Obama's health care law. The law does not take money out of the existing hospital insurance trust fund. It cuts the future growth of spending. And in the future, seniors will still receive more in benefits than they paid in.
Obama says Ryan's "original plan would force seniors to pay an extra $6,400 a year." But that's based on an outdated analysis; Ryan's current plan is more generous than his first. In fact, over the long run, both men propose capping the growth of Medicare spending at the same rate.
Here's a reality check: Medicare has major financial challenges. However, Ryan's claim that Medicare is "going bankrupt" is a big exaggeration. As it stands today, left untouched, Medicare can muddle through another 12 years. You either believe in Obama's solution or Ryan's solution. I for one would rather that we close the loopholes saving money as in Obama's plan for the sake of future generations.