If government didn’t borrow from Social Security or Medicare, they’d be just fine

Re “Trustees: Medicare will become insolvent by 2026” (Page 8A, June 6): This article fails to note that Congress began taking money out of the Social Security fund over 30 years ago to fund projects, thus losing interest income. It fails to mention that beneficiary categories have been continually added over the years. It fails to account for fraudulent claims. Social Security premiums are paid by every working American until age 62 or becoming disabled.

As to Medicare, working Americans pay huge premiums all their working careers, and then have to pay additional premiums after becoming eligible for benefits. This article makes no mention of the rampant fraud perpetrated on the system.

Since becoming eligible for Medicare, I have received numerous calls offering “free” medical supplies or therapeutic devices. These are inducements to participate in defrauding Medicare. Accepting such offers allows the offering entity to bill Medicare for equipment or services not medically necessary but not disproveable.

Both Social Security and Medicare depend on taxpayer contributions and investment earnings to sustain solvency. Why then can the federal government get away with “borrowing” Social Security and Medicare funds without paying interest? Time to manage these systems just like commercial insurance companies.

This story was originally published June 8, 2018 at 12:59 PM with the headline "If government didn’t borrow from Social Security or Medicare, they’d be just fine."