This paper looks at three years of projections of the future costs of Medicare and assesses various tax and spending options to put the program on firmer financial footing in the future. For the three years examined, 1998 through 2000, projections of the share of GDP that Medicare will consume dropped steadily as the economy continued to be strong and the Balanced Budget Act had a greater impact on spending than many had assumed. While tax revenues will likely be needed in the future, the level of those tax increases can be quite modest if some changes begin to be made in the near future. (Inquiry 2000/2001 Winter; 37(4): 338-347).
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