Opinion: The reason America cannot afford Medicare for All: We have run out of other people's money

In the first post in this series, I showed that to honestly bankroll America's two biggest entitlements--Medicare and Social Security--we would have to impose the equivalent of a tax on all U.S. household wealth. In the second post, I showed that the problem of unfunded liabilities for entitlements was actually much bigger than conventionally depicted once realistic assumptions are made about Medicare spending and once we account for the inevitable delay in reaching a political consensus about how to handle this unbelievable mess, the problem grows in size by at least 16% to as much as two-thirds.