Medicare Turns 50

CNBC reports:

On July 30, 1965, President Lyndon B. Johnson signed Medicare into law to ensure that older Americans could receive health care at a time when half did not. However, as Medicare approaches its 50th birthday, the program is beginning to show its age.

Medicare, the federal health-insurance program for Americans over 65, currently has 53 million beneficiaries and by 2025 will have 70 million — one out of every five Americans. Medicare expenditures, which now exceed $500 billion, are projected to grow even more rapidly and reach nearly $900 billion by 2025 to meet the demand.

Socialist medicine in the news.