Obama Rejects Age Increase for Medicare Eligibility

White House Press Secretary Jay Carney revealed Monday that President Barack Obama will not consider raising the Medicare eligibility age to help balance the entitlement program's books.

“The president’s made clear that we don’t believe that’s the right policy to take,” said Carney.

The nonpartisan Congressional Budget Office (CBO) says raising the Medicare eligibility age from 65 to 67 would save $125 billion over the decade. Many Republicans support the idea, and Obama previously signaled he would consider a gradual raising of the eligibility age to 67. But no more.

“The White House keeps saying what they won’t do to replace President Obama’s devastating sequester--when will they tell us what they will do, and call on the Senate Democrats to pass it?” said Boehner spokesman Michael Steel.

Boehner spokesman Brendan Buck tweeted: “I'm personally shocked that the White House is ruling out things it previously supported.”


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The past several months have seen the price of gold slump even as the Fed and other central banks have accelerated their massive expansion of paper money. Gold is off about 20% so far this year with silver down almost 30%. The old adage--“don’t fight the Fed”--particularly comes to mind now because the US equity markets have been setting new highs during this same period. All of these gains are nominal, you understand, but for terrified American policy makers and investors, nominal is just fine.

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