Obama Offers More of the Wrong Medicine on Medicare

Obama Offers More of the Wrong Medicine on Medicare

The latest fiscal cliff plan from President Obama promised $400 billion in entitlement savings. An analysis by the Washington Post of the likely composition of those "savings" showed that nearly half of those cuts would come from requiring prescription drug rebates in Medicare. That would be a huge mistake for the country's fiscal and physical health.

Americans are living longer lives, and the additional years of retirement are putting a strain on Social Security and Medicare. But raising the retirement age - a bipartisan cost-cutting favorite - is deeply problematic unless Americans are healthy when they reach their mid-60s and...