offense by depicting this as obama care as a raid on the piggy bank of medicare in order to pay for obama care, taking money from programs to it seniors to pay for healthcare for nonseniors. chris: you heard the argument that robert gibbs made which is true you that because of obama care which has the spending cuts and tax increases it extends the hospital part of medicare from 2026 to 224 for 8 years. if you do all of that we are facing insolvency in that part of medicare in four years. how do you see the medicare debate playing out at this point? that is a great question, chris. i listened to your previous guests and i think it will play out probably about a draw which favors the democrats. the viewer letts watcs will sat know who to believe. i will go with my gut. who do i really trust to
offense by depicting this as obama care as a raid on the piggy bank of medicare in order to pay for obama care, taking money from programs to it seniors to pay for healthcare for nonseniors. chris: you heard the argument that robert gibbs made which is true you that because of obama care which has the spending cuts and tax increases it extends the hospital part of medicare from 2026 to 224 for 8 years. if you do all of that we are facing insolvency in that part of medicare in four years. how do you see the medicare debate playing out at this point? that is a great question, chris. i listened to your previous guests and i think it will play out probably about a draw which favors the democrats. the viewer letts watcs will sat know who to believe. i will go with my gut. who do i really trust to
economy came out just minutes ago. christine roman has those and then zain verjee looking at reaction to a deal made on the debt crisis and alison kosik at the new york stock exchange where your 401(k) could enjoy a big day. christine, let s go ahead and start with you. before we focus on the big debt deal, if you don t mind, let s talk about what this means. tell us about the economy and the good news we re getting. all right, first of all, gdp. how the economy grew in the most recent quarter. the third quarter. 2.5% kyra. that s twice as fast as it was in the second quarter. it shows you there was a pickup in economic activity in the third quarter. and that is the best in a year. so, kyra, that tells us that the economy is doing a little better, it needs to be better than 2.5%, but that is better than it has done in about a year. that is good news about where the economy is going right now. the overnight deal on the european debt crisis. let s talk about how this has im
medicare patients. so government can make it look like it s cheaper if it underpays providers and provides them less than the cost of care and providers over charge private payers to make up for the difference and that s not sustainable. what about that, congressman van hollen? the obama care does reduce payments to providers. and wouldn t that mean that seniors eventually would have trouble getting doctors? first, let me respond to the first point, which is that medicare is going, coat quote bankrupt. in the trustees report that, is not in there. in part d, the hospital part, beginning in 2024 that we are going to fall short part a. part a. it will be 90% funded on payroll taxes, so there will be a gap. a big chunk of medicare is funded through general revenue. 50% of it is now.
they overcharge the private payier. that system is not sustainable. bret: let me stop you there. they reduce the medicare spending reducing the reimbursement to providers. if the congressman ryan says, wouldn t it mean that seniors eventually would have trouble getting doctors or finding. first, let me respond to the first point he made. that medicare is going bankrupt. if you look at the trustee report it s not in there at all. what it does have with respect to part d the hospital part, that in 2024, may be accelerated we ll fall short in terms of premiums. part a. part a for hospitals. it will be 90% funded on payroll. big chunk of medicare is funded through general revenue. 50% of it now. a suggestion that the shortfall in port a is somehow bankrupting the program is just false. bret: jack lew said it won t fall off a cliff. it is not going to fall off a cliff