The Remington Report

In its annual report to Congress, the Medicare Board of Trustees said it expects the Hospital Insurance Trust Fund to be exhausted in 2017. This is two years earlier than previously predicted, resulting from current economic recession. In its annual report to Congress, the Medicare Board of Trustees said it expects the Hospital Insurance Trust Fund to be exhausted in 2017. This is two years earlier than previously predicted, resulting from current economic recession.

According to the report, Medicare expenditures totaled $468 billion in 2008, or 3.2% of gross domestic product, and are expected to reach 11.4% of GDP in 75 years.