Oct. 8, 2009

Medicare is going to go bankrupt. I think most Congressmen know this. They dare not say this in public, because the voters would ask the obvious question: "What is the government going to do about this?" Two things: (1) kick the can; (2) ration medical care. Rationing will be demanded at some point, namely, when the costs of the program are no longer tolerable for voters.

In this video, I go through the basics of Medicare's finances. Then I outline a few steps that institutions and individuals could do now, and in some cases have already started doing.

If you are dependent on Medicare, you had better begin building an escape hatch. I am.

The interview lasts 15 minutes.