The NYT reported that Medicare premiums are projected to increase by 15 percent this year. Medicare costs are projected to substantially outpace inflation in the decades ahead due to the fact that U.S. health care costs are projected to continue to rise more rapidly than costs in other countries. This means that the United States could gain a large and growing amount of money by allowing beneficiaries to buy into the more efficient health care systems in other countries. For some reason, the media refuse to ever mention this option, talking exclusively to protectionists on this issue.
--Dean Baker
