Medicare and Medicaid are not unaffordable. It’s the stuff they pay for that’s unaffordable.
Via Ezra Klein, International Federal of Health Plans has the charts to prove it:
There’s no mystery here. The prices are just too high. Nobody’s figured out a way that we can pay as little as other rich countries do besides price controls. They simply make it illegal to charge such high prices, and voila! the prices are lower. Maryland does something similar to this, and Pennsylvania should do it too. The pushback you’ll hear is that price controls will reduce investment in the health care sector, but that’s true of any solution that “bends the curve” as they say. The fact is that we have nothing to show for paying these higher prices in terms of better health outcomes. We can pay as little as every other rich country and be just as healthy.