U.S. audit finds ‘dangers’ of government debt overreach
The audit found that the federal government had not yet collected enough revenue to cover the costs of administering Medicaid, Medicare and Social Security, and that debt servicing could become a “major challenge.”
The audit also found that Medicare and Medicaid payments are not being fully funded, that Medicare costs have increased by more than $1 trillion since the Affordable Care Act passed, and Medicare and Medicare Advantage plans have not been able to deliver sufficient financial solvency.
It said the Obama administration has failed to adequately address “significant risks of overreach” in Medicare payments, and warned that the Medicare trustees and CMS have been unable to effectively oversee the program.
“The U.N. has consistently urged that the U.s.
Government pay a fair share of its obligations, and the U