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It appears Obama is in violation of Medicare finance legislative law
Well , this happened apparently back in 07-08 Bush bowing to the demands of title VII of the Medicare Modernization law/act, submitted a budget proposal that would keep Medicare spending under the 45% general revenue threshold .alas ..
For the past four years, Congress has voted to ignore the trigger altogether, despite the fact that, in 2008, President Bush did submit a proposal to address the shortfall.
Under the 112th Congress, the trigger is back in effect.
White House Shirks Responsibility to Address Medicare Insolvency | The Foundry
They also tried to pull the warning bell portion of law out of the act, back in 08 but lost that vote.
Medicare was originally designed to be paid for mostly by special dedicated taxes. Yet it has become increasingly dependent on general revenues as expenses have far outrun both projections and Medicare tax receipts. By 2024, according to the annual report of the Medicare trustees, the hospital insurance trust fund will be exhausted.
To force Washington to take action before Medicare overwhelms the federal budget, fiscal experts wrote a presidential obligation into the Medicare Reform Act of 2003. Under that provision, if Medicare's trustees forecast that general revenues will be required for 45% or more of the program's outlays within a seven-year period, then the president must propose legislation to correct the problem within 15 days of his next budget submission. Congress then has to give the proposal expedited consideration.
In their annual report this spring, Medicare's trusteeswho include four members of Mr. Obama's cabinet as well as two outside expertssaid "the threshold was in fact breached" during the last fiscal year and "a Presidential proposal is required by law in response." As, indeed, one was required in 2010 as well. The Democratic majority waived the requirement during the last Congress, but it remains in force this year. The president has continued ignoring the law, failing to send Congress a plan to fix Medicare's finances.
Rove: The President's Medicare Abdication - WSJ.com
Appendix: Summary of Procedures
Under the 2003 prescription drug law, the trigger is pulled if two successive reports of the Medicare trustees estimate that general revenues will cover more than 45 percent of Medicare costs within the following six years. As noted, the second such trustees report was issued last spring, triggering the following procedures.
The President is required to submit specific legislative language within 15 days of this years budget submission. The intent of the law is that the President submit a proposal to keep general-revenue financing within the 45-percent limit for each of the next six years[5], but the law does not require that the proposal actually achieve this result.
The Presidents legislative proposal must be introduced in Congress as a bill and referred to the committees of jurisdiction: the Senate Finance Committee and presumably the House Ways and Means Committee and the House Energy and Commerce Committee.
Whether or not the President submits legislation,[6] the House and Senate committees are required to report Medicare legislation by June 30.
The President's Budget and the Medicare
so, we have that, and a) a plan for the debt ceiling, b) a plan to deal with the deficit overall going forward, c) a 2012 budget....
I think I have a right to ask; where are the plans Mr. President?
can we have one of the 4 at least? You never passed a budget in 2010 for 2011, it to much to ask that you do one this year?
Well , this happened apparently back in 07-08 Bush bowing to the demands of title VII of the Medicare Modernization law/act, submitted a budget proposal that would keep Medicare spending under the 45% general revenue threshold .alas ..
For the past four years, Congress has voted to ignore the trigger altogether, despite the fact that, in 2008, President Bush did submit a proposal to address the shortfall.
Under the 112th Congress, the trigger is back in effect.
White House Shirks Responsibility to Address Medicare Insolvency | The Foundry
They also tried to pull the warning bell portion of law out of the act, back in 08 but lost that vote.
Medicare was originally designed to be paid for mostly by special dedicated taxes. Yet it has become increasingly dependent on general revenues as expenses have far outrun both projections and Medicare tax receipts. By 2024, according to the annual report of the Medicare trustees, the hospital insurance trust fund will be exhausted.
To force Washington to take action before Medicare overwhelms the federal budget, fiscal experts wrote a presidential obligation into the Medicare Reform Act of 2003. Under that provision, if Medicare's trustees forecast that general revenues will be required for 45% or more of the program's outlays within a seven-year period, then the president must propose legislation to correct the problem within 15 days of his next budget submission. Congress then has to give the proposal expedited consideration.
In their annual report this spring, Medicare's trusteeswho include four members of Mr. Obama's cabinet as well as two outside expertssaid "the threshold was in fact breached" during the last fiscal year and "a Presidential proposal is required by law in response." As, indeed, one was required in 2010 as well. The Democratic majority waived the requirement during the last Congress, but it remains in force this year. The president has continued ignoring the law, failing to send Congress a plan to fix Medicare's finances.
Rove: The President's Medicare Abdication - WSJ.com
Appendix: Summary of Procedures
Under the 2003 prescription drug law, the trigger is pulled if two successive reports of the Medicare trustees estimate that general revenues will cover more than 45 percent of Medicare costs within the following six years. As noted, the second such trustees report was issued last spring, triggering the following procedures.
The President is required to submit specific legislative language within 15 days of this years budget submission. The intent of the law is that the President submit a proposal to keep general-revenue financing within the 45-percent limit for each of the next six years[5], but the law does not require that the proposal actually achieve this result.
The Presidents legislative proposal must be introduced in Congress as a bill and referred to the committees of jurisdiction: the Senate Finance Committee and presumably the House Ways and Means Committee and the House Energy and Commerce Committee.
Whether or not the President submits legislation,[6] the House and Senate committees are required to report Medicare legislation by June 30.
The President's Budget and the Medicare
so, we have that, and a) a plan for the debt ceiling, b) a plan to deal with the deficit overall going forward, c) a 2012 budget....
I think I have a right to ask; where are the plans Mr. President?
can we have one of the 4 at least? You never passed a budget in 2010 for 2011, it to much to ask that you do one this year?
