Rather than looking to reduce benefits the more obvious way to go with Medicare is to reduce the cost of care. The United States pays more than twice as much per person for its health care as the average for other wealthy countries. If we could get our costs down to those of other countries we would be facing huge long-run budget surpluses, not deficits. One way to get lower costs would be to allow Medicare beneficiaries to buy into the more efficient health care systems in other countries. The enormous potential savings could be split between the government and the beneficiary.

It’s amazing what you can learn reading the Washington Post. Today its lead editorial told readers that reducing the annual cost of living adjustment for Social Security by 0.3 percentage points won’t hurt. This would come as news to most seniors who rely on Social Security for most of their income.

President Obama is still relatively popular with younger Americans, but he has a serious political problem with people over 55. Only 39 percent of people in that age group approve of his job performance while 52 percent disapprove.