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Medicare is a vital program for seniors, but is fundamentally unaffordable as it is currently structured because it faces an unfunded obligation of $85.6 trillion. Phasing out the subsidy forupper-income seniors is an obvious first step toward Medicaresustainability. Such a policy would reduce Medicare's long-runexcess costs by over $41 trillion.
Changes in import duty and a windfall tax on fuel exports will offset duty cuts on fuels and increase overall tax collection over the budget target this fiscal to Rs 20.70 lakh crore, per a report.
A sharper fiscal target would serve us better Premium Share Via Read Full Story That our Fiscal Responsibility and Budget Management (FRBM) Act is in need of rework has been rather obvious over the past year. Ever since the law’s enactment in 2003, successive governments have moved one step forth and two steps back on the fiscal deficit goal of 3% of gross domestic product (GDP) specified by it. Till this year’s budget, ‘off-balance sheet’ expenses were the standard workaround. Even so, that target was seldom achieved. In this year’s budget speech, the finance minister said that the...