Medicare is a joke. It's incredibly wasteful and allows billions of dollars to be lost each year due to it's refusal to allow it's buyers to engage in common marketplace pracices like using competition to get decent prices.
Furthermore, added spending does not correlate to better services.
http://www.forbes.com/2004/10/12/cx_mh_1012waste.html
Quote:
We tend to think that high-tech medicine--blockbuster pills and expensive surgeries--is behind our skyrocketing national medical bill. But inefficiency may be a much more powerful part of the problem than we realize.
Take this stunner: States that spend the most money per Medicare patient actually tend to give lower-quality health care than those that are frugal.
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