Since we found his work through Mickey Kaus, we’ve become big fans of Keith Hennessey, whose blog on matters fiscal is unusually clear-headed and well-written. He had a particularly useful piece yesterday, explaining Medicare from a “top-down budget perspective.” It’s not long and it’s helpful to understanding what Medicare does and what role it plays in the ongoing debate about America’s fiscal woes.
Rather than excerpt it, we encourage you to read the whole thing. You can find it here.
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