It is paradoxical that his administration refuses to cut entitlements – the major factor behind the budget deficit. It is paradoxical in a capitalistic economy that historically raising taxes always decreases government revenues to help the poor.
The third paradox is that if doctors lose 28.5% of Medicare revenues by going over the cliff, some 30% to 50% of physicians will respond by stopping seeing Medicare and Medicaid patients since reimbursements from these sources will no longer meet their practice expenses – all of this just as 78 million baby boomers and 30 million to 40 million are becoming Medicare and Medicaid eligible.
Physicians are being told by some politicians, that none of this will ever happen. A “patch” will be found.
Tweet: If doctors go over the fiscal cliff, they may be unable to afford to see Medicare and Medicaid patients.