By Rob Williams – Re-Blogged From Newsmax
Larry Kudlow, the economist and former adviser to President Ronald Reagan, said the economic agenda spearheaded by Senate minority leader Chuck Schumer, D-N.Y., will be a “disaster,” if Medicaid is any guide.
“A government plan is not going to work. Medicaid, which is a disaster and has spiraled out of control and has expanded and expanded and expanded with no eligibility requirements anymore – that’s the perfect example,” Kudlow said on CNBC. “If you want a Democratic program that is going to be government-run, single payer – take a look at Medicaid, which has been a disaster.”
Kudlow on Monday directed his criticism toward Schumer’s comments the day before.
“Week after week, month after month, we’re going to roll out specific pieces here that are quite different than the Democratic Party you heard in the past,” Schumer told ABC’s “This Week” on Sunday. “Single payer is on the table.”
Several key Democrats have supported the concept of a single payer system, including Sens. Kirsten Gillibrand, D-N.Y., and Elizabeth Warren, D-Mass. In addition, Vermont Independent Sen. Bernie Sanders made single payer a primary focus of his 2016 presidential campaign.
Medicare is the government-run health program for the elderly, while Medicaid is intended for low-income people.
Medicare spending was 15 percent of total federal spending last year, and is projected to rise to 17.5 percent by 2027. The Medicare Hospital Insurance (Part A) trust fund is projected to be depleted in 2029, according to a July 18 report from the Henry J. Kaiser Family Foundation.